A Receiver is an officer appointed by the Court who is given custody of specified assets with direction to liquidate them, manage them, improve the return on investment, or sell and distribute the proceeds. Typically a Court order is required to appoint a Receiver, and the order will outline the terms and describe the Receivers duties and powers.

Sometimes the court may deem it necessary to appoint a receiver as a neutral party who will oversee the business of one of the parties in a complicated lawsuit. Either party to the lawsuit may also request a receiver at any time during the case. Receivership laws are meant to ensure that the property or business in dispute is protected from deterioration while the lawsuit is in progress, and/or additional legal actions are pending.

There are no set time periods for how long a receivership will last, but they can take anywhere from several months to several years.

Receivership services include:

  • Cash Flow Analysis

  • Judgment enforcement

  • Business, property and real estate seizure

  • Securing assets

  • Bond restructure and recovery

  • Forensic accounting

  • Managing assets

  • Paying bills and accounting

  • coordination with multiple parties

  • Business dispute resolution

  • Pursuing out-of-the-box solutions that maximize recoveries

A Receiver can maintain a bank account, enter into leases, deeds, and contracts, and engage in any business activity deemed necessary and reasonable to ensure the maintenance of the property during the court process.

Much Like attorney fees, the receiver gets paid hourly through the operating income of the receivership estate