Background: The case involved Access Road Capital, LLC ("Access Road") seeking the appointment of a receiver over the assets of Bron Media Corp. ("Bron Media") due to Bron Media's failure to fulfill repayment obligations under a consent judgment related to a $20 million loan. Bron Media opposed the receivership, claiming imminent return to profitability and arguing against the necessity of a receiver.

Legal Arguments/Issues: Access Road argued for the appointment of a receiver based on Bron Media’s continued default on a consent judgment amounting to $10.9 million, which grew to approximately $11.5 million. Bron Media, supported by its secured creditors, opposed the application, asserting that financial stability was forthcoming and that a receivership would be unnecessarily disruptive.

Held: The court postponed the decision to appoint a receiver, providing Bron Media a deadline to secure adequate financing to fully repay Access Road by May 1, 2023. The court indicated that failure to meet this obligation would result in the appointment of a receiver on May 8, 2023.

Costs/Award: The document did not specify the total amount of costs or the award in favor of the successful party, as the judge postponed the final decision pending Bron Media’s ability to meet its financial obligations by the specified deadline.