COURT APPOINTED RECEIVER
NEW YORK CREDIT HAS BEEN A COURT APPOINTED RECEIVER
When it comes to taking over a company and managing the liquidation of all the assets,
NEW YORK CREDIT (with a hands-on approach) can handle the entire function without outsourcing any of the work.
Lenders like NEW YORK CREDIT, because all of our services are under one roof.
Under California law, a lender may request the Court to appoint a receiver to take possession of and protect assets for the benefit of all persons who may show themselves entitled to those assets.
The receiver is a court officer and is under the Court's control and continuous supervision. The receiver is always neutral.
The purpose of taking possession of a specific property is to preserve and protect the status quo pending a final order in the underlying litigation. The fact that they are given the right to take possession does not give them title, since possession is only temporary.
The receiver can do many things if permitted by the Court, including operating a business, maintaining property, suing to recover property, completing construction of improvements, collecting rents, borrowing money and selling or leasing the property.
NEW YORK CREDIT handles preference actions (vendors who are paid within 90 days of a bankruptcy filing other than the normal course of business) as well as…
Claims, judgments and filing of lawsuits.
NEW YORK CREDIT has extensive experience, resources, and expertise representing bankruptcy estates, trustees, and liquidating agents concerning the analysis, reconciliation, bookkeeping and prosecution of all varieties of avoidance actions, including preferences, fraudulent transfers and subordination claims.