Receivership Attorney Phoenix
Business disputes, especially among creditor and debtor entities or among competing owners, often result in deadlock or business failures that cripple productivity and prevent otherwise viable businesses from paying their bills and returning investment earnings to their owners. While these type of disputes can be very tricky and difficult to negotiate, the law offers a powerful tool for sparring parties – the receivership.
A receivership involves the appointment by a court of a professional, skilled agent to take over the business operation, identify and secure the business’s assets, identify and strategize how to resolve creditor claims, and seek enforcement of the business’s rights and claims against third parties, including those who may have misappropriated or wrongfully removed or sold assets of the business.
A receivership will require proactive efforts to start an action in court and have the receiver appointed. Then, they will require careful monitoring of and cooperation with the appointed receiver to ensure the receiver is fully educated and has the tools necessary to protect the business entity and its creditors. The business attorneys at Baskin Richards are adept at handling receivership matters. We can represent receivers themselves, or help concerned creditors or owners negotiate the expedited steps needed to obtain appointment of a receiver. These matters are often complex, and require counsel to apply unique legal standards. Our experienced Phoenix receivership attorneys can provide the depth of knowledge and strategies needed to make a receivership successful and earn the protection for the business, owners, and creditors alike that can keep a business afloat through difficult times.