Cordes & Company

Dysfuntional family business is liquidated

A family-owned steel fabrication business in Colorado Springs was owned by parents and then their two sons. There were multiple lawsuits, allegations and issues involving the family members, including physical altercations. The El Paso County District Court appointed Cordes & Company as receiver to operate the company until these lawsuits could be resolved. Cordes ran the business for a short period of time, investigated and resolved various allegations, researched and documented the company’s financial challenges, worked with the secured creditor regarding debt obligations, and communicated with the various parties and their attorneys. Eventually, Cordes determined that the best course of action was to close down the company and liquidate the assets (including real estate, equipment and personal property) for the benefit of the secured creditor.

Colorado
5299 DTC Boulevard
Suite 600
Greenwood Village, CO 80111
Telephone: 303.721.8755
Minnesota
2677 N. Innsbruck Drive
Suite A
New Brighton, MN 55112
Telephone: 612.455.6027
California
2030 Main Street
Suite 1600
Irvine, CA 92614
Telephone: 949.379.1202
© CORDES & COMPANY