Court Appointed Receiver / KeeperDistressed Asset Management and Disposition ServicesNewsEDS Named Court-Appointed Keeper (Receiver) in George Joseph Assets, LLC (Burlington) Matter in Alexandria, Louisiana

May 29, 2021

Equity Development Systems Ltd., a national provider of Receivership and Distressed-Asset Management and Disposition Services to secured creditors, attorneys and law firms, investors, and myriad other stakeholders has been named Court-Appointed Keeper (Receiver) in the George Joseph Assets, LLC. / Burlington matter in Alexandria, Louisiana.
Court-Appointed Keeper/Receiver Services

A Court-Appointed Receiver or Keeper under Louisiana law owes a fiduciary duty to the Court and all parties involved in the litigation. The Receiver/Keeper’s duty is to preserve, protect, manage, and operate the property, collect all receipts, and pay all necessary bills associated with the property such as those related to insurance and utilities, rents, and provide monthly accountings to the court and all interested parties. The Court also allows the Receiver/Keeper to make necessary improvements to the property as well as market it for sale and/or lease.

The Appointment of a Receiver / Keeper (Louisiana) requires highly-trained—highly skilled—highly credentialed—highly experienced special-assets and special-situations transitional management, valuation, and disposition experts with decades of proven experience and unimpeachable credibility who master the facts and can present clear, objective, and compelling findings to judges.

The success of the Receiver / Keeper is predicated upon the qualifications—education, experience, training, and credibility of the Fiduciary. EDS’s unsurpassed global qualifications, decades of experience, and unimpeachable credibility afford it an unparalleled opportunity to serve as a trusted Court-Appointed Keeper/Receiver/Trustee/Custodian/Liquidator and Replevin / Asset Recovery Services Fiduciary.

For over 40 years in hundreds of assignments, across industries and asset classes, throughout the country, New Orleans, Louisiana-based EDS has skillfully and judiciously served as Court-Appointed Keeper (Louisiana)/Trustee/Assignee/Special Master/Chief Restructuring Officer/Liquidator for secured creditors, attorneys, investors, and other 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.

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 our global clientele in the conversion of their distressed assets to cash. We specialize in handling the disposition of environmentally sensitive and Impaired Real and Moveable Property (Superfund and Brownfields Sites), Hospitality, Gaming, Resorts, Shipyards/Admiralty/Maritime, Aviation, Automotive (Manufacturing and Retail), Heavy Industrial, Oil and Gas/Minerals, Commercial and High-Value Residential Real Estate and, complex—highly-contentious special assets and special situations.

Our award-winning receiver services have earned us the distinction of being the only Court-Appointed Receiver/Keeper in the country that the United States Environmental Protection Agency (USEPA) allows to conduct such 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.

We are the measure by which all court-appointed fiduciaries are judged.

As an example, a borrower in financial distress raises myriad commercial loss concerns for its secured lender, including increased risk of less than payment in full of its loan, increased liabilities, additional costs and expenses, and greater utilization of lender resources.

When a borrower shows signs of distress, it is critical for the secured lender to promptly and proactively develop a thoughtful strategic plan to mitigate issues and to identify options available to strengthen the secured lender’s position in the credit facility.

Doing this is an important first step for a secured lender interested in maximizing its recovery and limiting its exposure. Our management and operations teams work closely with the client’s legal representatives to protect, preserve, maintain, operate, and enhance the going-concern value of the business and/or business assets that might otherwise be lost during forbearance agreements, replevin actions, bankruptcies, foreclosures, and restructurings, while actively pursuing permanent solutions.

The impact of complex and contentious litigation in many distressed—special situations can complicate, if not destroy, the client’s position if not handled properly. Non-current, non-performing, distressed, and troubled accounts present many pressing challenges. When problematic accounts facing operational or financial challenges occur, our experienced—street-savvy—proficient crisis/interim/turnaround and workout management teams employ creative solutions that often reverse and cure these situations immediately.

EDS’s unparalleled level of expertise is recognized and appreciated in boardrooms and courtrooms throughout the world. How may we be of service to you?

For more information about our Receiver/Keeper Services, visit COURT-APPOINTED RECEIVER / KEEPER (LOUISIANA) / Fiduciary services.

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