After 11 years in the role, Kathy Bazoian Phelps has decided to hang up her red pen, and hand over the reins as editor of this wonderful newsletter. During her tenure, Kathy was nothing short of marvelous. Not only did she polish every article to perfection through masterful editing, but she also helped develop Receivership News to become what it is today – a preeminent source of all-things receiverships, guiding legal practitioners and receivers to excel at their respective professions. So when Kathy asked me to take over as editor, I asked myself “will I be able to fill Kathy’s shoes?” My answer was swift and decisive – “Not a chance.” It would be like comparing a floodlight to a flashlight. Me being the flashlight, of course. Although I will never be able to replace Kathy, I promise to all of our readers that I will try to shine as bright as I can in my new role as editor.

With an increase in interest rates and inflation, most economists are now predicting that the United States is headed into a recession, likely to start in the second quarter of 2023. A natural byproduct of recessions is an increase in receiverships. Receivership News is here to help. David Copp’s article, “The Brewing Economic Storm and the Role of Proper Environmental Due Diligence,” provides useful guidance to receivers in navigating potentially undisclosed environmental issues affecting properties that are in foreclosure. Richard Ormond provides insightful guidance on dealing with “dangerous” receiverships in “The Danger Factor in Receiverships: Be Smart.” Byron Moldo shares his personal story and history as a receiver and attorney in “Byron Moldo: He Almost was a Photographer.” And, Daniel Miggins provides an invaluable perspective on the values of being a member of the California Receivers Forum in his article, “Memberships.”

Additionally, Receivership News would like to thank Chad Coombs for his exemplary Tax Talk, column, Peter Davidson for his always respected Ask the Receiver column, which I consider the modern day “Clark on Receivers,” and Ryan Baker the newest writer for “Heard in the Halls.” Finally, our beloved Jeanne B. Sleeper’s article “Evolution of a Good Thing” provides an historical background of the CRF and Receivership News, underscoring just how invaluable Bob Mosier and Kathy Phelps have been to the organization and this newsletter. Please take a moment to thank Bob and Kathy. We would not be where we are today without them.