One form of receivership takes control of a property from the hands of a borrower and, at the direction of a court, gives control to a third party (the receiver) who operates all aspects of the property to preserve its value until it is sold.
Receiverships can also be used to completely displace a business’s current management, such as the receivership process under Chapter 128 of the Wisconsin Statutes.
KMK helps clients navigate all the intricacies related to the receivership process. Our attorneys regularly assist in the selection of the receiver and identify the receiver’s authority and responsibilities during the appointment to assist a lender in taking control of its collateral during the pendency of an action.
KMK also assists clients where another party has obtained a receiver--selling to a receiver has its own peculiar pitfalls and ensuring prompt payment from an operating receiver is vital. Our attorneys’ depth of experience and the array of resources available to them provide you with the necessary knowledge and expertise you need to protect your interests in these unique situations.
When you need help with receiverships, contact KMK to help you through it.