Receiverships: Resolving Disputes with Management of a Small Business

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As a creditor or co-owner of a failing and mismanaged business, you are probably watching your investment or secured collateral disappear. What can you do to preserve value in your investment?

Receiverships are powerful tools for co-owners or creditors of failing businesses. A court-ordered receivership allows one to remove present management and install an independent manager to direct the day-to-day operations of the business, sell assets for the benefit of creditors, or wind-up the company's affairs when there is a dispute among the shareholders. In the case of an ongoing business, a court-appointed receiver can act to turn the company around, preserving the assets and long-term viability of the business.

Originally published in Northern Nevada Business Weekley on August 25th, 2013.

Please see full article below for more information.

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Topics:  Co-Ownership, Creditors, Receivership, Small Business

Published In: General Business Updates, Finance & Banking Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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