Mt. Corner Store in lawsuit limbo
by Amanda Matthews | Patterson Irrigator
Mar 11, 2010 | 897 views | 0 0 comments | 9 9 recommendations | email to a friend | print
The corner store of the Chevron station has been closed since December, and the owners seem to have vanished.
The corner store of the Chevron station has been closed since December, and the owners seem to have vanished.
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The lights are on and the shelves are stocked, but those who have tried to buy gas or snacks at Mt. Corner Store on Del Puerto Avenue and First Street have found themselves out of luck. The station has been closed for two months, and its owners have vanished.

According to Audrey Bradby — a director of the Los Angeles-based Stapleton Group, an asset management and receivership company — Mt. Corner Store has been closed since December. In February, lender Comerica Bank sued Mt. Corner Store Inc., as well as owners Narinder Singh and Jasvir Tiwana, because they defaulted on a secured loan.

When a business defaults on a loan, the lender can ask the court to grant a temporary receiver, which is an independent third party that acts as the caretaker for the business’ property and assets while a lawsuit is carried out.

According to court documents, no one from Mt. Corner Store can sell or get rid of anything having to do with the business. The owners also were ordered to hand over all documents, including receipts and ledgers, to the Stapleton Group. In turn, the Stapleton Group has been ordered by the court to take full control of the business.

That’s where Bradby comes into play. As a director of Stapleton Group, she has been assigned to carry out her group’s task of receivership.

“I try to maintain integrities for the account,” she said. “Make sure it’s something worth selling.”

That means paying the electricity, keeping the store’s liquor license and insurance current and helping mediate for the court. Basically, she makes sure the condition of the store and gas station doesn’t deteriorate while Comerica and Mt. Corner Store duke it out.

For now, though, it seems the suit against Mt. Corner Store will be a one-sided battle. Bradby says she doesn’t know the whereabouts of Singh, Tiwana or anyone associated with the store.

“In this case, (they) walked,” she said.

Contact Amanda Matthews at 892-6187 or amanda@pattersonirrigator.com.
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