Balch has years of experience in representing creditors who need a receiver appointed to preserve assets of its obligors. We also frequently represent the receiver from its initial appointment through the closing of the receivership. This representation covers both state and federal courts throughout our footprint and beyond.
We understand the purpose of a court-appointed receiver. We also understand that the need for a receiver often arises in emergency situations. When representing a creditor seeking the appointment of a receiver, we ensure that the evidence in support of the appointment of a receiver is presented to the court as quickly as possible. We also work with clients to ensure the best person for the job is selected as receiver.
When representing the receiver, we ensure that it is afforded the protections made available to it as an arm of the court. We also work with the receiver to ensure a smooth transition of oversight of the business made the subject of the receivership.
We represent lenders, note holders, and other creditors seeking the appointment of a receiver in state and federal courts. We also represent companies and individuals serving in the role of receiver.
As a secured creditor, a primary goal after a loan goes into default is to preserve the value of your collateral. This goal often cannot be accomplished when the collateral is under the borrower’s control. While the secured creditor may have the right to foreclose, local law or procedures may not allow this to happen quickly enough to ensure value is preserved. Even when a creditor can quickly foreclose, the creditor may have reasons to avoid taking title to the collateral. Situations like this are often prime candidates for the appointment of a receiver.
Balch represents lenders and other creditors throughout the country in appointing receivers to take control over collateral. Such collateral includes multi-housing, retail, hotel, and industrial properties. This work has allowed us to develop a network of relationships which position us well to assist creditors in the selection of a receiver.
The need for a receiver often arises suddenly. Our years of experience in this field allow us to move quickly when the need for emergency relief occurs.
Balch also represents receivers. This work includes negotiating the compensation arrangement and ensuring a smooth transition in the control of the subject business or property. We represent the receiver in dealing with disputes arising with vendors and tenants of the company now in receivership. We also represent the receiver when selling property through a receivership sale.