Our attorneys are frequently called on to act as Receivers or attorneys for Receivers. This practice requires a thorough working knowledge of commercial law as well as a litigation experience. Commercial law and litigation are basic to our Firm. Our attorneys are licensed to practice in all trial and appeal courts, both state and federal.
Receivers are appointed by state or federal court judges generally for any of several purposes. Usually one of the parties will nominate a receiver which the court will appoint.
- To collect a judgment. When there is a judgment against a business, a court may appoint a receiver to take charge of and run the business for the purpose of paying off the judgment.
- To maintain the status quo to protect all parties. For example, where a business entity is paralyzed because the principals cannot agree, a court will appoint a neutral receiver to manage the business until the dispute can be resolved.
- To liquidate a business. Often, when business needs to be wound down, the principals will a agree on a neutral receiver to handle the liquidation of the assets and distribution to appropriate parties.