Titled “Effectively Using A Receiver,” the article discusses receivership as a tool and how banks can successfully utilize a receiver. Andrea and Eric explain the receivership selection and administration process, including ways to prepare for court.
“Receivership can be a beneficial tool. A receiver provides a level of control over the debtor’s assets and oversight over the debtor’s business,” Andrea and Eric explained in the article. “Rather than simply foreclosing on collateral, a receiver can continue to operate a business under court supervision. A receiver may also sell a business as a going concern.”
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