Louisiana Court-Appointed Keeper / Receiver Services
LOUISIANA COURT-APPOINTED KEEPER / RECEIVER SERVICES
Maximizing Value For All Stakeholders
LOUISIANA APPOINTMENT OF KEEPER / RECEIVER SERVICES
Louisiana Rev Stat § 9:5136 — Designation in mortgage or other instrument of keeper of property
Louisiana Rev Stat § 12:1-1432 — Appointment of receiver or liquidator
A Louisiana Court-Appointed Keeper or Receiver is an independent third-party neutral fiduciary 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 Court-Appointed 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.
A Louisiana Court-Appointed Receiver is different from a Louisiana Court-Appointed Keeper as the 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.
The role of a Louisiana 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.
The Louisiana Court-Appointed Receiver or Keeper is a court-appointed agent that is responsible to act on behalf of the court, to keep the assets safe, to preserve the assets and to manage the property until the final resolution of the legal dispute.
EDS Louisiana Court-Appointed Keepers and Receivers are highly-trained—highly-skilled—highly credentialed—highly-experienced distressed 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.
For over 40 years in hundreds of assignments across industries and asset classes throughout the country, New Orleans, LA-based EDS has skillfully and judiciously served as Court-Appointed Keeper/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.
From National Priority List Superfund Sites—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.
A Louisiana Court-Appointed Keeper or Receiver owes a fiduciary duty to the Court and all parties involved in the litigation to preserve, protect, manage, and operate the property, real and moveable, 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 Keeper/Receiver to make necessary improvements to the property as well as market it for sale and/or lease.
Our award-winning receivership 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.
Our Louisiana Court-Appointed Keepers / 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 bankruptcies, foreclosures, restructuring, replevin, and other 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 Louisiana Court-Appointed Keepers/Receivers are judged.
A Court-Appointed Keeper scenario… A borrower in financial distress raises myriad commercial loss concerns for its creditors, including increased risk of less than payment in full of its loan, increased liabilities, additional costs and expenses, and greater utilization of creditor resources. When a borrower shows signs of distress, it is critical for the creditor to promptly and proactively develop a thoughtful strategic plan to mitigate issues and identify options available to strengthen the creditor’s position in the credit facility. Doing this is an essential first step for a creditor interested in maximizing its recovery and limiting its exposure.
Our management and operations teams work closely with the creditor, its legal team, and all stakeholders to protect, preserve, maintain, operate and enhance the going-concern value of the business and/or business assets while actively pursuing permanent solutions.
The impact of complex and contentious litigation in many distressed situations can complicate, if not destroy, the stakeholders’ position if not handled properly. Non-current, non-performing, 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 statewide capabilities, decades of state and federal Court-Appointed Keeper/Receiver experience, and unimpeachable credibility afford it unparalleled opportunity to serve as trusted Louisiana Court-Appointed Keeper/Receiver/Trustee/Custodian/Special Master/Liquidator.
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