Green Earth Energy Photovoltaic Corp. v. Keybank National Ass'n, No. 21-1580 (1st Cir. 2022)
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The First Circuit affirmed the judgment of the district court appointing a receiver in an interlocutory appeal occurring during litigation between solar energy companies and the bank that funded the companies' development and expansion, holding that the district court did not abuse its discretion when it granted the bank's motion to appoint a receiver.
The companies filed an amended complaint against the bank claiming that the bank breached certain contracts with the companies. The bank, in turn, initiated a federal action against the companies alleging breach of contract and other claims. The companies filed an answer and asserted several counterclaims, including claims based on the same allegations as in the other case. After consolidating the two cases the district court granted the bank's motion for the appointment of a receiver. The First Circuit affirmed, holding that the district court did not abuse its discretion when it granted the bank's motion to appoint a receiver.
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