Louisiana Court-Appointed Receiver and Keeper Services
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Louisiana Court-Appointed Receiver / Keeper / Liquidator / Services
EDS Louisiana Court-Appointed Receiver and Keeper 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 Louisiana Court-Appointed Receiver or Keeper is typically done to protect the assets of the business or property while the legal dispute is being resolved. The Receiver or Keeper 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.
In practical terms, a Louisiana Court-Appointed Receiver and Keeper functions as an officer or agent of the Court, with a fiduciary duty to the Court and all parties involved in the litigation, to preserve, protect, manage, operate, and otherwise handle the disposition of troubled assets while maintaining clear, objective oversight during legal proceedings.
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 and Keeper for creditors, attorneys, investors, and all stakeholders to preserve, protect, manage, operate, and otherwise handle the disposition of troubled assets, real and movable, tangible and intangible, in business disputes, commercial foreclosures, probate, divorce, bankruptcies, and myriad other legal proceedings.
For a broader fiduciary context, see our Court-Appointed Receiver Services and Receivership Services pages.
National Recognition, Government Engagements, and Operational Reach
Louisiana Receivership Framework
Louisiana Court-Appointed Receiver Services
Protecting and Maximizing Value For All Stakeholders
- Louisiana Revised Statutes 12:1-1432 — Appointment of receiver or liquidator
- Louisiana Revised Statutes 12:1335 — Judicial dissolution
- Louisiana Revised Statutes 12:1336 — Winding up
Under Louisiana law, courts may appoint receivers or liquidators in specified circumstances.Louisiana Revised Statutes 12:1-1432 provides for the appointment of a receiver or liquidator in judicial dissolution proceedings involving corporations. Louisiana law also provides for judicial dissolution of limited liability companies underLouisiana Revised Statutes 12:1335, and for the winding up of limited liability company affairs, including the appointment of liquidators, underLouisiana Revised Statutes 12:1336.
For over 40 years in hundreds of assignments across industries and asset classes throughout the nation, EDS, with its principal office in the Greater New Orleans area, Slidell, Louisiana, has skillfully and judiciously served as Court-Appointed Receiver and Keeper for creditors, attorneys, investors, and all stakeholders to preserve, protect, manage, operate, and otherwise handle the disposition of real and movable, tangible and intangible, assets in commercial foreclosures, bankruptcies, and myriad other legal proceedings.
Our capabilities, decades of state and federal Court-Appointed Receiver and Keeper experience, and unimpeachable credibility afford EDS an unparalleled opportunity to serve as a trusted Louisiana Court-Appointed Receiver, Trustee, Custodian, Special Master, Special Magistrate, Liquidator, or in other such court-appointed fiduciary capacities.
For related insolvency remedy work, see our Louisiana Assignment for the Benefit of Creditors Services.
Judicial and Fiduciary Context
A Louisiana Court-Appointed Receiver and Keeper is a court-appointed agent responsible for acting on behalf of the court and managing the property, real and movable assets, and financialsunder the court’s direction in a manner that is best for all parties involved until the final resolution of the legal dispute.
EDS Louisiana Court-Appointed Receiver and Keeper Services specialists are highly trained, highly skilled, highly credentialed, and highly experienced distressed assets, turnaround management, valuation, and disposition experts with decades of proven experience and unimpeachable credibility who master the facts and present clear, objective, and compelling findings to judges.
EDS Court-Appointed Receivers and Keepers are officers or agents of the Court with 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 movable, collect all receipts and pay all necessary bills associated with the business or property, including those related to insurance, utilities, and rents, and provide periodic or court-ordered accountings to the court and all interested parties. The Court may also allow the Receiver or Keeper to make necessary improvements to the property as well as market it for sale or lease.
Operational Responsibilities
The role of a Louisiana Court-Appointed Receiver and Keeper 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.
EDS Louisiana Court-Appointed Receivers and Keepers marshal onsite 24/7/365 throughout the state 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.
The Court may also allow the Receiver or Keeper to make necessary improvements to the property as well as market it for sale and/or lease. Where appropriate, these matters may also overlap with broader court-appointed receivership services and related distressed asset management assignments.
Common Situations Where Receiverships and Keepers Are Utilized
Receiverships and Keepers are commonly utilized in matters involving:
- Corporate deadlock
- Distressed loan collateral enforcement
- Business divorce or shareholder disputes
- Insolvent corporations
- Dissolved corporations and dissolved LLCs
- Commercially distressed real estate
- Environmentally impaired properties
- Corporate insolvency and restructuring matters
- Regulatory enforcement actions
- Special assets and special situations
In Louisiana, the statutory framework expressly addresses appointment of a receiver or liquidator in corporate judicial dissolution proceedings, and judicial dissolution and winding up of limited liability companies, including court-supervised winding up where appropriate.
The impact of complex and contentious litigation in many distressed situations can complicate, if not destroy, stakeholders’ positions if not appropriately handled. Distressed and troubled accounts present many pressing challenges.
Strategic Considerations in Distressed Asset Environments
When problematic accounts face operational or financial difficulties, our experienced, street-savvy, and proficient crisis/interim/turnaround and workout management teams employ creative solutions that often immediately reverse and resolve these situations.
We specialize in providing 24/7/365 on-site 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 Movable Property, including 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, and Commercial, Multifamily, and High-Value Residential Real Estate.
Professional Receivership and Keeper Engagements
EDS has served in complex court-appointed and fiduciary roles involving:
- State and federal court receiverships
- Court-appointed keeper assignments
- Commercial foreclosures
- Bankruptcies
- Distressed real estate and business assets
- Multistate and multinational corporate disputes
- Environmentally impaired industrial assets
- Asset recovery and liquidation assignments
- Municipal receivership services
- Special assets and special situations
- Aviation and admiralty-related federal seizure matters
EDS’s unparalleled level of expertise is recognized and appreciated in boardrooms and courtrooms throughout the world.
Court-Appointed Fiduciary Experience
EDS serves statewide in Louisiana Court-Appointed Receiver matters of varying size, complexity, and operational demands.
EDS is trusted to serve in complex Louisiana receivership matters requiring experienced fiduciary oversight, operational control, and objective reporting.
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 (USEPA) allows to conduct such services on active Superfund Sites.
We are pleased to serve as Court-Appointed Keepers for the U.S. Marshals Service for federal court seizures of assets under aviation and admiralty jurisdiction.
For matters involving financial disputes, valuation issues, or business valuation in litigation, EDS also provides related Litigation Appraisal Services across all valuation disciplines, e.g., Business Valuation, Real Estate, and Personal Property, as well as valuation-related Alternative Dispute Resolution Umpire services.
How may we be of service to you?
— Discuss a Receivership Matter
Louisiana Court-Appointed Receiver and Keeper Services
Related EDS Receivership and Fiduciary Services Include:
- Nationwide Receivership and Fiduciary Services
- Nationwide Court-Appointed Receiver Services
- Delaware Court-Appointed Receiver Services
- Florida Court-Appointed Receiver Services
- Texas Court-Appointed Receiver Services
- Louisiana Court-Appointed Receiver / Keeper Services
- Court-Appointed Liquidator Services
- Assignment for the Benefit of Creditors Services
Frequently Asked Questions (FAQ)
What is a Court-Appointed Receiver or Keeper?
A Louisiana Court-Appointed Receiver or Keeper is an independent third-party fiduciary appointed by a court to take control of, manage, preserve, or help administer business assets or affairs in specified circumstances. Under Louisiana corporate law, the court may appoint a receiver or liquidator in a judicial dissolution proceeding and define that fiduciary’s powers and duties in the appointing order. Louisiana Revised Statutes 12:1-1432, Appointment of receiver or liquidator.
What responsibilities does a receiver or Keeper have during litigation?
A Louisiana receiver’s or keeper’s responsibilities depend on the court’s order, but may include taking charge of property or operations, preserving assets, managing business affairs, collecting and handling funds, and filing interim or final reports if required by the court. Louisiana Revised Statutes 12:1-1432 specifically provides that the court shall describe the powers and duties of the receiver or liquidator in the appointing order and may require interim and final reports. Louisiana Revised Statutes 12:1-1432.
When will a Louisiana court appoint a receiver or keeper?
Under Louisiana law, a court may appoint a receiver or liquidator or keeper in a judicial dissolution proceeding involving a corporation. Louisiana law also provides for judicial dissolution of limited liability companies and for the winding up of LLC affairs under court supervision where appropriate. Louisiana Revised Statutes 12:1-1432,Louisiana Revised Statutes 12:1335, Judicial dissolution, Louisiana Revised Statutes 12:1336, Winding up.
How is a receiver different from a liquidator in Louisiana?
In Louisiana, the statutes use both terms. A receiver or keeper is generally associated with managing the business or affairs under court supervision, while a liquidator is associated more directly with winding up and liquidating the entity. Louisiana Revised Statutes 12:1-1432 expressly authorizes the court to appoint one or more liquidators to wind up and liquidate, or one or more receivers to manage, the business and affairs of the corporation. Louisiana Revised Statutes 12:1-1432.
What types of matters commonly involve Louisiana receiverships?
Louisiana receiverships commonly arise in matters involving judicial dissolution, business disputes, closely held company conflict, financially distressed businesses, asset preservation concerns, and court-supervised winding up of corporations or LLCs. The Louisiana statutory structure most directly ties these remedies to dissolution and winding-up proceedings under the corporate and LLC statutes. Louisiana Revised Statutes 12:1-1432,Louisiana Revised Statutes 12:1335,Louisiana Revised Statutes 12:1336.
Can a Louisiana receiver or liquidator or keeper sell assets or wind up a business?
Yes, if authorized by the court. Louisiana Revised Statutes 12:1-1432 provides that the court appointing the receiver or liquidator describes the fiduciary’s powers and duties in the appointing order, and the statute distinguishes between liquidators who wind up and liquidate and receivers who manage the business and affairs. Louisiana Revised Statutes 12:1-1432.
Does Louisiana law require court supervision and reporting?
Yes. Louisiana Revised Statutes 12:1-1432 provides that the court may require the receiver or liquidator or Keeper to post bond and may require interim and final reports with the court as the court considers appropriate. That court-supervised structure is one of the defining features of the remedy. Louisiana Revised Statutes 12:1-1432.
Are Louisiana receiverships limited to corporations?
No. Louisiana’s corporate statute expressly addresses appointment of a receiver or liquidator or Keeper for corporations, and Louisiana’s LLC statutes separately address judicial dissolution and winding up for limited liability companies. Louisiana Revised Statutes 12:1-1432, Louisiana Revised Statutes 12:1335, Louisiana Revised Statutes 12:1336.
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