Cordes & Company

Receiverships

One of our primary practice areas is receivership and court-appointed fiduciary services. Over the past 35 years, we have been a court-appointed receiver or trustee in approximately 500 cases across the U.S.

Circumstances requiring a court-appointed receiver may involve economic distress; fraud or mismanagement; litigation between partners or shareholders; the untimely death of the business owner or managing partner; a high net-worth marital divorce; or legal claims raised by customers, suppliers or regulatory agencies.

a receivership, an independent, impartial party is appointed by a federal or state court or by creditors to receive, manage, preserve and/or dispose of an at-risk or disputed business and its assets, as well as real property, until such time as the issues are resolved or until full liquidation has occurred. The best receivers are able to not only preserve but actually increase the value of the distressed assets under their management.

The benefits of a Receiver over other alternatives:

  • Mitigation of risks by giving a receiver either full control or a limited supervisory role
  • Gain full transparency with reliable accounting and financial reporting
  • Investigation of claims of fraud or mismanagement
  • Stabilization of business operations while being buffeted by litigation among shareholders
  • Unbiased business assessment or valuation
  • Assistance in litigation resolution
  • Neutral party to assist in a settlement
  • Orderly liquidation of assets
  • More economical than Chapter 7 bankruptcy filing

Real Estate Receiverships

75 percent of our receivership engagements have involved various real estate property types, including commercial, retail, multi-family, hospitality, and senior care. Some of the properties have construction or development issues. We receive numerous calls from creditors to discuss at what point it makes sense to move forward with the appointment of a Receiver when a debtor becomes unresponsive and the loan goes into default. Click here to see additional information related to this topic and call us to discuss your circumstances.

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: 612.455.0985
California
2030 Main Street
Suite 1300
Irvine, CA 92614
Telephone: 949.379.1202
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