Insolvency, Bankruptcy and Receivership

Our firm has repeatedly been retained by banks and other secured lenders to investigate the value of collateral, to ensure that the lender had a valid security interest, and to maximize recovery on the collateral. We have negotiated, documented, and implemented workout agreements, short sales, and deeds in lieu of foreclosure.

Matt Flamm has been appointed by several courts to serve as Receiver for businesses. In one case, a major national bank had him appointed as Receiver for an apartment building in foreclosure. Matt retained local agents to collect rent and contractors to make needed repairs so that the occupancy factor could be increased, leading to sale of the property at a higher price.

Matt was appointed Receiver for a business engaged in buying delinquent real estate taxes that was being sued by its secured lender after its line of credit expired. Our firm investigated the status of hundreds of tax sale certificates and reported its findings to the lender and to the court. We have liquidated collateral and recovered more than $4.5 million, a complex effort that would not have been feasible without the experience and skills of our team.

Our firm has been retained as Special Counsel for a Bankruptcy Trustee. We investigated the status of the debtor’s assets and made recommendations to maximize the value of those assets for the benefit of creditors. Those recommendations were approved by the Trustee and by the Bankruptcy Court, and we have proceeded to recover hundreds of thousands of dollars on behalf of creditors.