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Expert Analysis

Consider A Receiver For Your Restructuring And Turnaround

Law360, New York (October 18, 2012, 11:26 AM EDT) -- A court-appointed receiver is often seen as a measure of last resort for an aggrieved party in litigation. This perception, however, is evolving, and receivers are now being used in creative ways to effectuate workouts and turnarounds. While there is no cure-all solution, the appointment of a receiver can provide many benefits. Further, in most instances, the cost of a receivership is much less than that of a Chapter 11 bankruptcy and is certainly more flexible in that it is not overburdened by the highly complex and convoluted Bankruptcy Code....

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