Business Transitions:

Receivership

In certain business disputes, particularly those involving operating businesses, it may be advisable to employ the services of an independent person to oversee the affairs of the business and to safeguard its assets until the underlying dispute has been resolved. In these actions, we serve as a court appointed receiver (federal or state court) and perform each item listed in the order appointing the receiver and report to the court as directed by the order. A court-appointed receiver assists businesses in several ways. A receiver can be appointed in a limited capacity, for example to safeguard and liquidate a borrower’s inventory and accounts receivable collateral. A receiver can also be appointed to safeguard real estate and other assets awaiting foreclosure sale. A receiver can also step in and run a company on behalf of its creditors or arrange to sell it or its assets in a so-called liquidating receivership. This Analytical Value service initiative is led by James Hart, who has been appointed as a receiver in federal and state courts in Georgia, South Carolina and North Carolina. Mr. Hart has also served as a receiver for a publicly traded company with assets in excess of $100 million.