Liquidations and Receiverships

NEW YORK CREDIT LIQUIDATIONS CAN TURN ASSETS INTO CASH

Are you a company owner who wants to retire gracefully?
Are you in a distressed bankruptcy situation where vendors must be paid?
Are you a bank with problem loans?
Are you a lender with little or no experience in liquidations?

NEW YORK CREDIT offers both orderly or distressed liquidations that can help you get the most from your company assets.

ORDERLY LIQUIDATIONS
When you have up to 12 months to dispose of company assets such as equipment, inventory and other personal property, NEW YORK CREDIT can help you liquidate at general market rates.

We will:
– Catalog your assets for sale.
– Determine the best market for the type of asset
– Place ads and telemarket.
– Organize an on-site team to handle daily operations.
– Establish forms of payment
– Negotiate sales price.
– Keep records of each transaction.
– During last week, arrange for auctioneer or removal of scrap

DISTRESSED LIQUIDATIONS
When you no longer intend to stay in business, NEW YORK CREDIT will supervise the collection of your accounts receivable debt and we’ll do it fast. Because timing is crucial. We put our emphasis on bring ing in the most funds in the shortest terms.

We will:
Collect receivables, assess debt, conclude reconciliation, make settlement offers and being in the money Put our emphasis on bringing in the most funds in the shortest period of time
Negotiate with your vendors for more favorable payment terms, which includes dealings with vendors Assist in the liquidations of Assets for the highest possible prices.
We have knowledge and resources available to purchase asset-based loans at a discount
WHEN YOU NO LONGER INTEND TO STAY IN BUSINESS CALL NEW YORK CREDIT, WE SERVE ALL INDUSTRIES

RECEIVERSHIPS

– 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, and 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 as possession is only temporary.

– The receiver can do many things if permitted by the Court including operating a business, maintaining property, sue to recover property, complete construction of improvements, collect rents, borrow money and sell or lease the property of the receivership.

NEW YORK CREDIT has been a Court Appointed Receiver since 1989.
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 us because all of our services are under one roof.

Bankruptcy Collections
– Preference actions (vendors who are paid within 90 days of a bankruptcy filing other than the normal course of business).
– Claims, judgements, filing of lawsuits

 

NEW YORK CREDIT has extensive experience, resources, and expertise representing bankruptcy estates, trustees and liquidating agents concerning the analysis, rec- onciliation, bookkeeping and prosecution of all varieties of avoidance actions, including preferences, fraudulent transfers and subordination claims.