Court Appointed Receivership
Appointed as Receiver and Conservator by State and Federal Courts
Asset IQ, LLC and Asset Realty Auctions, Inc., are well known across the state of Ohio, Kentucky, Indiana and beyond for its ability to provide the operational and financial expertise, professionalism and integrity necessary to manage complex bankruptcy and insolvency cases. We are frequently appointed by courts in the state and federal court systems to serve as a receiver and conservator in proceedings involving a wide spectrum of industries.
Asset IQ and Asset Realty Auctions and its fiduciaries are regularly requested by federal courts to serve as a receiver in complex cases initiated by various government agencies.
In the Midwest, several Circuit Courts have established Complex Business Litigation Divisions that specialize in handling complicated and sophisticated business cases. The judges who work in the Complex Business Litigation Divisions are well-versed in business disputes and utilize standardized rules and procedures to facilitate the efficient resolution of these complex matters. Many of these judges are very familiar with the team at Asset IQ and regularly appoint members of our team to serve as receivers to manage the marshaling of assets for repayment to creditors.
As court-appointed receivers, the specific roles and responsibilities that we assume are tied to the individual case, but often involve:
- Protecting and preserving a company’s assets by taking full control and possession of the property, including all rents, incomes, and profits therefrom
- Taking over the management of the company’s operations
- Acting in the best interest of the entity and its creditors
- Controlling cash flow for the company
- Overseeing the winding down of business activities (when necessary)
In a receivership, we act as a neutral, independent third party responsible for managing and operating the business under the court’s supervision. We have considerable experience serving in the role of a neutral and help facilitate a favorable outcome that maximizes value for the stakeholders involved.