Tag: default

Ogden’s Newgate Mall placed in receivership after loan default, to be auctioned | Business

OGDEN — Newgate Mall has been placed in receivership and the Ogden retail outlet is to be sold at auction on March 19, according to court records and a legal ad.

U.S. Bank National Association, trustee for the $58 million loan to the mall owners, sued in 2nd District Court in Ogden last July to place Newgate Mall in receivership because the owners had defaulted on the loan agreement. Forth Worth, Texas-based Woodmont Company took over as receiver on July 16, tasked with overseeing the mall’s day-to-day operations pending resolution of the matter.

A legal ad in the Standard-Examiner on

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