As court receivers serving the Oakland area from our San Francisco office, the most common question we hear from potential clients is, “When do I need a court receiver?”
The answer to that question varies:
- You may need a court receiver when you are in a situation that involves selling, operating, or dissolving a business or property;
- You may need a court receiver when you are going to foreclose on a debtor’s property or reverse fraudulent transfers; and
- You may need a court receiver when you are having a difficult time enforcing a court ordered judgment.
All of these situations are often best handled with experienced court receiver involved in the case.
A court receiver is an unbiased party appointed by the court to facilitate the court ordered judgment in a case. The court receiver is always appointed by the judge overseeing the case. You do not simply hire a court receiver. Instead, you must to talk to your attorney about having a court receiver appointed to your case. Your attorney will make a motion to the presiding judge who, in turn, appoints the court receiver.
If, for example, you wanted to have Kevin Singer of Receivership Specialists appointed as your court receiver, you would inform your attorney to list Kevin Singer of Receivership Specialists in the appropriate court documents. It would be up to the judge to make the appointment of Kevin Singer of Receivership Specialists, as the court-appointed court receiver, based on your attorney’s motion.
The three most common situations for the appointment of a court receiver are:
1. When a business is dissolved or is in dispute. Just because the owners of a business or company are having a difficult time working out their differences, doesn’t mean that the business needs to suffer. A court-appointed court receiver may be appointed by the court to run the business until the owners are able to come to an agreement.
2. When a property or business is in foreclosure (especially an income property). A court receiver may be appointed to collect rents or income or otherwise manage the business aspects of the property or business. An experienced court receiver may be able to ensure that the income of the property remains intact.
3. When a judgment holder is having difficulty recovering on the judgment from the other party, a court-appointed receiver is often appointed by the court to assist with enforcing the judgment.
Having the right court receiver appointed to your case is an important factor to obtaining the maximum benefit of your judgment or settlement. A seasoned court receiver with experience in cases like yours will be able to assist the judge in determining the best course of action.
Why Should You Have a Receiver Appointed to Your Case?
There are multiple reasons for having a court receiver appointed to your case. The most simple and straight-forward reason is this: It makes financial sense.
The expense of the court receiver is usually paid through the receivership estate. The sooner the court receiver is appointed, the less chance there is that one of the parties might neglect, damage, or even pilfer the collateral assets.
A court receiver often brings a fresh management perspective to the real estate or business under receivership and can effectively implement accounting and management practices that benefit the collateral asset. This improvement often extends well beyond the receivership appointment.
The experienced court receivers of Receivership Specialists have decades of experience. Since 2001, they have transitioned over $1,000,000.000 in assets and have handled over 300 cases.
Kevin Singer is known throughout the Southwest and his reputation is that of an experience, honest, aggressive, and professional court-appointed receiver. He is a featured guest speaker on receivership related topics and sits on the boards of multiple receivership organizations in California, Arizona, and Nevada. When you need a court receiver, make sure to have your attorney list Kevin Singer and Receivership Specialists as the nominated receiver for your case.