University Dental

Receiver of Distressed Dental Practice

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  • Case Name

    CV2010-011424

  • Court

    Superior Court of Maricopa County

  • Engagement Type

    Receivership

Dismantled dental practice in default of secured loan.

Situation

Appointed as Receiver for dismantled dental practice in Mesa, Arizona. Resolute acted as Receiver to reconstitute and operate dental practice.

 

Strategy

Resolute was appointed Receiver at the request of the bank due to the default of the borrower on a loan secured by real estate and the dental practice. Upon takeover, the dental practice was found to be shut down and the premises completely stripped of records, dental equipment and FF&E. Within thirty days, Resolute recovered the patient records and equipment, reconstituted the physical office and the practice was reopened for business. At present the practice has enjoyed six months of successful operation and stability and quality care have been restored for patients.

 

Solution

Resolute directed the sale of the practice and associated real estate via the Receivership Estate.