The mall's debt was sold at a huge loss to investors. Meanwhile, a new referee could determine parameters for a sale of the site.

The Palisades Center opened in March 1998. The mall's fortunes have been falling for more than a decade.

Newer trends in malls nationwide, including the inclusion of "live-work-play" high-end apartments, have been hinted for the Palisades Center.

WEST NYACK - A new plaintiff has taken over a foreclosure lawsuit against the Palisades Center after the megamall's owners were accused of squelching on a $418.5 million debt.

Meanwhile, the mall property remains under receivership , operated by a court-appointed entity. The court has also assigned a referee , who would determine any parameters of a sale of the site.

The mall's value has diminished over the dec

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