receivership

Staley and other tenants said the Produce had deteriorated over the previous two weeks since the building had been sold out of receivership to Beverly Hills developer Leo Pustilnikov.

County Administrator James Morris said the new high school is an example of the rapid progress the district is making to pull itself out of receivership.

The city’s bill for the receivership is at least $37 million, though some of that amount is expected to be repaid once the sales approved Wednesday close.

Leo Pustilnikov, 38, will buy 17 buildings owned by the nonprofit Skid Row Housing Trust, which had financially collapsed into receivership last year.

Ultimately Shangri-La defaulted on payments, sending the projects into receivership and, eventually, foreclosure.