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Leveraging Receivership as a Bankruptcy Alternative: Financial Restructuring, Disposition of Assets and More

Representing Receivers and Litigating With Receivers in Federal and State Court

Recording of a 90-minute CLE webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Tuesday, August 23, 2016

Recorded event now available

or call 1-800-926-7926

This CLE course will discuss the benefits of receivership as an alternative to bankruptcy as a vehicle for financial restructuring, disposition of assets, collection of outstanding obligations and enforcement of contracts. The program will also discuss strategies for representing receivers and litigating with receivers in federal and state court.

Description

Creditors and co-owners of financially distressed companies as well as adverse litigants of these companies should consider whether receivership is a viable alternative to bankruptcy. Advantages of receiverships include lower administrative costs, speed of the process as compared with bankruptcy, judicial supervision by a local court, and the ability to choose the fiduciary to administer the receivership estate.

A receiver’s powers to facilitate the continued operation of a business or protect estate assets include the powers in the receivership order or otherwise approved by the court, including the power to assume or reject contracts just like bankruptcy trustees, to pursue litigation on behalf of the receivership estate, and sell estate property with court approval.

Despite the lack of the bankruptcy automatic stay, the appointing court has the power to protect the receivership estate from litigation that would harm the receiver’s administration of the estate. If a bankruptcy proceeding is later filed, the court-appointed receiver may be retained to continue protecting or disposing of estate assets.

Listen as our authoritative panel comprised of a bankruptcy litigator and an experienced receiver analyzes receivership as a bankruptcy alternative for financial restructuring, sale or disposition of assets, collecting outstanding obligations and enforcing contracts. The panel will discuss salient issues in representing receivers as well as litigating with receivers in federal and state court.

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Outline

  1. Pros and cons of receivership as an alternative to bankruptcy
  2. Representing receivers
  3. Litigating with receivers in Federal and State Court

Benefits

The panel will address these and other important issues:

  • What are the key factors in determining whether receivership is a better process than bankruptcy for financial restructuring or disposition of assets?
  • What is the scope of the receiver’s powers to facilitate continued operation of a business or protect the business’ assets prior to a sale?
  • Without the benefit of the bankruptcy automatic stay, how can the receiver protect the receivership estate from litigation that would interfere with the administration of the estate?
  • What are best practices for litigating on behalf of, and against receivers, in state or federal court?

Faculty

Weber, Corey
Corey R. Weber
Partner
Brutzkus Gubner Rozansky Seror Weber

Mr. Weber represents bankruptcy trustees, creditors, committees of unsecured creditors, assignees for the benefit of...  |  Read More

Stephen J. Donell, CPM®, CCIM, ARM®
Stephen J. Donell, CPM®, CCIM, ARM®
Receiver and President
FedReceiver

Since 1990, Mr. Donell has administered and/or been appointed as a federal and state court receiver in hundreds of...  |  Read More

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Strafford will process CLE credit for one person on each recording. All formats include course handouts.

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