The Court-Appointed Receiver is a court-appointed agent who is responsible for acting on behalf of the court and managing the property, assets, and financials in a manner that is best for all parties involved, until the final resolution of the legal dispute.
A Court-Appointed Receiver owes a fiduciary duty to the Court and all parties involved in the litigation to preserve, protect, manage, and operate the business or property, real and moveable, collect all receipts and pay all necessary bills associated with the business/property such as those related to insurance and utilities, rents, and provide monthly accounting’s to the Court and all interested parties. The Court also allows the Receiver to make necessary improvements to the property as well as market it for sale and/or lease.
EDS Court-Appointed Receiver Services are independent third-party neutral fiduciaries appointed by a court to take control of and manage a business or property that is involved in a legal dispute. The appointment of a Court-Appointed Receiver is typically done to protect the assets of the business or property while the legal dispute is being resolved. The Receiver has the authority to operate and manage the business or property, and can also take steps to protect and preserve the assets until the dispute is resolved.
The role of a Court-Appointed Receiver can vary depending on the specific circumstances of the case, but they are generally responsible for managing the day-to-day operations of the business or property and ensuring that it is being run in a financially responsible manner. They may also be required to provide regular reports to the court on the condition of the business or property and any actions taken to protect and preserve the assets.
For over 40 years in hundreds of assignments across industries and asset classes throughout the country, EDS has skillfully and judiciously served as Court-Appointed Receiver for creditors, attorneys, investors, and all stakeholders to preserve, protect, manage, operate, and otherwise handle the disposition of real and moveable, tangible and intangible, assets in commercial foreclosures, bankruptcies, and myriad other legal proceedings.
EDS Court-Appointed Receivers are highly-trained—highly skilled—highly credentialed—highly experienced special assets, turnaround management, valuation, and disposition experts with decades of proven experience and unimpeachable credibility who master the facts and are able to present clear, objective, and compelling findings to judges.
From National Priority List Superfund Sites—to a Decommissioned Nuclear-Powered Aircraft Carrier—to the Pencils-on-the-Desk, we handle it all, and we have successfully managed and generated Billions of Dollars for all stakeholders in the conversion of their distressed assets to cash.
The receiver’s responsibilities may include:
- Taking possession and control of the assets
- Identifying, valuing, and preserving the assets
- Managing and operating the assets in order to generate revenue
- Selling or disposing of the assets
- Paying the company’s or individual’s debts and obligations
- Preparing and submitting reports to the court or other authorized party
A Court-Appointed Receiver is different from a court-appointed Keeper as a Receiver is appointed to manage the property, assets and financials of the company, but in the case of a Keeper, the primary focus is to keep the assets safe and preserve them.
Our award-winning Receivership Services have earned us the distinction of being the only Court-Appointed Receiver in the country that the United States Environmental Protection Agency allows to conduct Asset Recovery and Disposition Services on active Superfund Sites.
We are pleased to serve as Keepers for the U.S. Marshals Service for federal court seizures of assets under admiralty jurisdiction.
Our Court-Appointed Receivers marshal onsite 24/7/365 to secure, preserve, protect, operate, maintain, and enhance the going-concern value of the businesses and business assets that might otherwise be lost during legal proceedings while actively pursuing permanent solutions.
We specialize in providing 24/7/365 onsite crisis-interim management teams to operate troubled accounts facing operational and financial difficulties. We are particularly skilled in providing transitional management in highly contentious special assets and special situations and in handling all efforts related to the wind-down and disposition of Environmentally-Sensitive and Impaired Real and Moveable Property (Superfund and Brownfields Sites), Hospitality, Gaming, Resorts, HOA-Golfing Communities, Shipyards/Admiralty/Maritime, Aviation (Fixed and Rotor), Automotive (Manufacturing and Retail), Heavy Industrial, Oil & Gas/Minerals, Commercial and High-Value Residential Real Estate. No Court-Appointed Receiver assignment is too small or too large for us.
We are the measure by which all Court-Appointed Receivers are judged.
The impact of complex and contentious litigation in many distressed situations can complicate, if not destroy, the stakeholders’ position if not handled properly. Distressed, and troubled accounts present many pressing challenges. When problematic accounts facing operational or financial difficulties occur, our experienced—street-savvy—proficient crisis/interim/turnaround and workout management teams employ creative solutions that often immediately reverse and cure these situations.
EDS’s unsurpassed nationwide capabilities, decades of state and federal Court-Appointed Receiver experience, and unimpeachable credibility afford it unparalleled opportunity to serve as trusted Court-Appointed Receiver/Trustee/Custodian/Special Master/Liquidator.
How may we be of service to you?