Tracing their origin back to England during the rule of Queen Elizabeth, court receivers are appointed by judges to protect and preserve the value of assets while opposing parties are in dispute. Court Receivers act as neutral third parties, answering only to the judge that appointed them. Relative to other remedies, court receivers are an inexpensive alternative to bankruptcy and foreclosure. But court receivers are much more than alternatives to other means. Often times, the very act of petitioning the court for the appointment of a court receiver is enough to trigger a settlement between the disputing parties.
Court Receiver, Court Referee, Receiver Manager are all descriptive terms that may be used somewhat interchangeably. Once appointed by the court, the court receiver has the duty to protect and preserve the value of the assets in dispute. And quite often, the Court Receiver serves as a mediator between the parties to the action. As a neutral third party, the Court Receiver is in a position of trust and had an intimate knowledge of the asset in question and the core issues of dispute. The Court Receiver may offer credible recommendations that may lead the parties towards agreeable resolution.
In addition to acting as an officer of the court, a Court Receiver has a fiduciary responsibility and must protect the asset, property, or business at the center of the dispute. The actions required to fulfill this responsibility is dependent on the asset, business, or real estate that is the center of the case. Because of this, the spectrum of knowledge required by the top court receivers can be quite vast.
At Receivership Specialists, the founding partners, Kevin Singer and John Rachlin, have over three decades of combined experience. The value of this experience should not be undervalued. Mr. Singer and Mr. Rachlin are able to apply their experience and bring you the resolutions that will benefit you the most.