HENDERSONVILLE – The Fairmont at the Cedars, the stalled Hendersonville development that is the subject of two lawsuits from creditors, will go into receivership, following a June 24 order from a business court judge.
That means a neutral, court-appointed trustee, The Liberty Solution, LLC, will take control and management of the business and its assets and is free to sell part or all of them in the interest of settling the debt to its lender, Fuse 10, LLC, according to court documents.
A. Graham Shirley, a special Superior Court judge for complex cases, ordered the Cedars to turn over all real estate, deeds, bank accounts and other documents to the receiver…