As receivers, Simon
Consulting professionals provide more than the mere safeguarding of
cash and other business assets. All interested parties also benefit
from our experience in, and commitment to, enhancing business and
asset value.
|
Case Studies:
See a
representative list of recent receivership
engagements |
As economic conditions have
deteriorated, Simon Consulting's practice as court-appointed
receiver has grown substantially. These appointments have
been made at the request of parties seeking to maintain and
stabilize business operations, with the goals of:
-
preserving
the value of collateral
-
maximizing
the integrity and objectivity of liquidation and
disposition processes and the proceeds realized thereby
-
assuring
the maintenance of accurate books and records and the
appropriate application of funds.
Parties requesting Simon’s
appointment have included banks and other creditors, owners
and investors, parties to litigation, and governmental
agencies and organizations seeking to protect the interests
of consumers and other public stakeholders.
Receivership appointments have
involved operating, service and manufacturing businesses –
including school districts – and frequently involve real
estate used in the business operations of the receivership
estate or held by it for development, lease or sale.
Real estate assets in Simon’s
receivership assignments have included residential and
commercial properties, undeveloped and partially developed
land, and office, manufacturing, warehouse and other
industrial buildings.
To manage complex assets and
to preserve, maximize and realize value, Simon has assembled
a team of
professionals and consultants that have years of
experience in working with banks, non-bank lenders, debtors,
owners, investors, developers, and operators that own or
lease real estate in connection with their businesses. Our
expertise includes all phases of the evaluation and
oversight of development, property management and sale of
such assets.
Diligently after
appointment, Simon Consulting's professionals identify,
locate and take possession of all assets, books and records
comprising the receivership estate and assume operating
control and management thereof. Depending on the
circumstances and the interests of the parties, this may
involve steps such as:
-
analysis
and evaluation of:
-
assets,
including facilities, inventories, contract rights
and obligations, and payables and receivables
-
employees, including management and staff, and third
party consultants and service providers
-
books,
records and accounting policies and procedures to
assure their accuracy and completeness
-
business and operating strategies
-
formulation
and implementation of changes in management and staff,
policies and procedures and strategies and practices
-
review of
pending and threatened claims and litigations by or
against the receivership estate and the evaluation,
supervision and, as necessary, replacement of counsel
and other third party consultants engaged with respect
thereto
-
determination of the propriety of payments and transfers
of assets and recoupment of any that were improper
-
the
engagement and supervision of brokers and other
professionals in connection with dispositions and
liquidations of assets
-
representation of the receivership estate before public
bodies in connection with various issues, including
zoning and environmental matters.
Liquidations have been made
through private and brokered sales and included the conduct
of an auction organized and coordinated by the receiver. In
addition to international and domestic real estate, assets
sold include inventories, accounts receivable, intellectual
property, vehicles, warehouse and industrial equipment, and
specialized equipment such as semiconductor manufacturing
equipment and computerized cutting systems. |
