Receiverships

Southfield Business Bankruptcy Attorneys

Our attorneys are frequently called on to act as Receivers or attorneys for Receivers. This practice requires a thorough working knowledge of business bankruptcy law as well as litigation experience. 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.
• 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.
• Liquidate a business – Often, when a business needs to be wound down, the principals will agree on a neutral receiver to handle the liquidation of the assets and distribution to appropriate parties.

Experienced Commercial Litigators

Which each of these tasks, our firm utilizes over 100 years of combined legal experience in commercial bankruptcy law and litigation. We know how to ensure that the interests of those involved are protected and that truly just action is taken by the courts. Whether you simply need us to record a judgment, or you need a third party to safely distribute the assets of your business, you can trust that our Southfield bankruptcy attorneys have the experience and judgment to handle it with precision.