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Receivership
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Receivership
Receivership is an equitable remedy often used by creditors, business partners, investors and governmental agencies. The remedy allows a court-appointed officer to take charge of a business or its assets in order to address issues relating to non-payment of debts, non-cooperation with financial oversite, or non-compliance with legal requirements. A court order will appoint the Receiver and outline the Receiver’s powers and duties to the extent necessary to carry on the ordinary and necessary business of the corporation in the best interest of its shareholders and creditors. Receivership provides an equitable and legal remedy when a company cannot meet financial obligations and protects the interests of the Party that brings the action. Oftentimes, interactions between opposing parties can turn into a chess match with each side taking calculated risks in hopes of beating their opponent. Transparency and control are the objectives of the Lender wanting to understand their options. A receiver exists to stabilize or potentially increase the enterprise value and decrease the potential of total default. We offer several types of Receivership services, including:
Equity
Through both federal and state court appointed receiverships our team facilitates the continued operation or rehabilitation of an asset before sale to a third party.
Rents & Profits
Whether it’s a multi-family community, retail center or office complex land development, hotel or other type of real estate asset, we facilitate the continued operation or rehabilitation of the asset. Our experience also allows the sale of these assets to a third party and can be used to avoid Lenders being on chain of titles. We quickly assert control, identify the best available options, and execute along a path to achieve the maximum return of capital.
Investment Fraud or Ponzi Scheme
Through both federal and state court appointed receiverships our team asserts control over the illicit business and unwinds the transactions to identify victims and asset recoveries. Our seasoned team members have assisted with the pursuit of adversary claims and have been instrumental in recovering funds for investors and victims.
Special Master
In situations where forensic accounting or need for control of a litigation process is the primary focus of the complaint, our team can provide an efficient and detailed examination of the business records to determine any misappropriations or fraud allegations. We either replace or supplement existing management and operate the business during the pendency of the case.
Resolute has tremendous success in defusing contentious situations while working toward the common goal of regaining stability and restoring viability. It is with this non-threatening approach to client service that we can aid businesses faced with critical financial distress.
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