A Sample of 2014 Equity Receiverships
2014 was a busy year for the Resolute receiverships team, and below is a brief sample of our engagements.
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Solve and Resolve
How do you eat an elephant? âOne bite at a time,â jokes Jerry Foster of Resolute Commercial Services. But, for Foster, the elephant was $75 million of debt and a borrower in default after attempting to purchase the Minnesota Vikings. Ultimately he succeeded, in part; but the other dozens of businesses he owned went into default. âHeâs goes from $80 million to … Continued
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Resolute Commercial Services Appointed Receiver of Meyer and Lundahl Manufacturing Company
Resolute Commercial Services, an Arizona-based receivership and corporate renewal firm, has been appointed Receiver for Meyer and Lundahl Manufacturing Company, 2345 W. Lincoln, Phoenix, AZ 85009. A custom woodwork manufacturing company, Meyer and Lundahl, closed in August 2014 due to continued losses. Upon default of the loan and at the request of the banks, Resolute … Continued
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Resolute Commercial Services Appointed Receiver of High Tech Institute
Resolute Commercial Services, an Arizona-based receivership and corporate renewal firm, has been appointed Receiver for High-Tech Institute, located at 1515 E. Indian School Road in Phoenix, 85015 Built in 1991, the property includes a 37,946-square-foot office building and a 946-square-foot utility building situated on a 2.59-acre site. The building was built as educational office building … Continued
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Resolute appointed receiver of High-Tech Institute
Resolute appointed receiver of High-Tech Institute SCOTTSDALE, ARIZONA (November 3, 2014) – Resolute Commercial Services, an Arizona-based receivership and corporate renewal firm, has been appointed Receiver for High-Tech Institute, located at 1515 E. Indian School Road in Phoenix, 85015 Built in 1991, the property includes a 37,946-square-foot office building and a 946-square-foot utility building situated … Continued
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Customers of Door Company May Recover Some Losses
A Los Angeles-based window and door manufacturer has purchased the assets of Architectural Traditions in Tucson, which left a number of its customers in the lurch after abruptly shutting down in April. Customers who had put down deposits on custom windows and doors were told they would get reimbursed only if there was money left … Continued
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Makutuâs Island Family Fun Center to reopen in Chandler
New owners have invested nearly half a million dollars in new features and upgrades to the 20,000-square-foot center. Makutu’s Island, a longtime family fun center in Chandler, reopens in late June with a new look under its new ownership. Husband and wife Kiran Bapatla and Kiran Vedantam purchased Makutu’s Island for an undisclosed … Continued
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Resolute Commercial Services Appointed Receiver of the Steve Coury Dealerships
Resolute Commercial Services, an Arizona-based receivership and corporate renewal firm, has been appointed receiver of the Steve Coury Dealerships located at 5980 and 6101 E. Coury Dr., Camp Verde AZ 86326. There are 3 dealerships with service centers in the Steve Coury Dealerships project. Resolute will continue to keep operations in compliance with dealer standards, … Continued
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Americana Hotel in Nogales Sold to The LOK Group; Resolute Commercial Services Brokered the Transaction
Resolute Commercial Services, an Arizona-based receivership and corporate renewal firm, has successfully completed the sale of the Americana Hotel, located at 639 N. Grand Ave., Nogales, 85621, to The LOK Group from Santa Rosa, Calif. Resolute was substituted in as Receiver for a previous party in November 2012 by the Santa Cruz Court to act … Continued
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Resolute Brokers Sale of Americana Hotel
Americana Hotel in Nogales Sold to The LOK Group; Resolute Commercial Services Brokered the Transaction SCOTTSDALE, ARIZONA (April 18, 2014) – Resolute Commercial Services, an Arizona-based receivership and corporate renewal firm, has successfully completed the sale of the Americana Hotel, located at 639 N. Grand Ave., Nogales, 85621, to The LOK Group from Santa Rosa, … Continued
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