Blog
Appointment of a Receiver: Distressed Businesses, Corporate Dissolution and Liquidation of Assets
The coronavirus pandemic has flooded people’s minds with unquestionable doubts and uncertainty. For most, life and work have come to a complete and unexpected halt. The economy has plummeted, forcing countless businesses to temporarily close thus leaving numerous...
An Option for Struggling California Businesses: Introduction to Assignments for Benefit of Creditors
By Neil Sheaffer It is the unfortunate truth that many businesses in all industries are struggling as we proceed through uncharted economic times. In recent days, both J. Crew and Neiman Marcus filed for Chapter 11 bankruptcy protection, and this is likely only the...
California Court-Appointed Receiver Richardson “Red” Griswold Oversees Large Demolition Project of Abandoned Substandard Commercial Business Park
For nearly a decade, the City of Banning had to endure the challenges brought on by six unfinished commercial buildings spread over 9 acres of land located just off the 10 Freeway. The problem wasn’t necessarily that the buildings were unfinished, but rather that the...
California Health & Safety Receiverships: Recent Changes to Section 17980.7(c) Clarify the Pre-Petition Notice Requirements for Cities and Counties
For years, California Cities and Counties have faced a conundrum when attempting to have a Receiver appointed for substandard properties. Previously, the California Health and Safety Code § 17980.7(c) required an enforcement agency to provide a “3 Day Notice”...
Benefits of Receivership to Commercial Lenders
By Neil Sheaffer When considering foreclosure, a commercial lender may not always think or know about the option of appointing a receiver, but a receivership can be a powerful tool to help enforce a mortgage or deed of trust. Receivers help ensure that payments are...
Excluded from Bankruptcy, Cannabis Industry Looks to Receivership
By Neil Sheaffer California has established itself as the world’s largest marijuana industry, with an estimated $3 billion in legal sales in 2019. Despite the large, robust legal market in California, the complex regulations, high state and local taxes, and...
