Detroit Receivership Attorneys
What Is a Receivership?
In a receivership, the court appoints a receiver to oversee a struggling or mismanaged business or property. The receiver can have a wide range of duties and expansive power to make decisions for the business, depending on the level of control and powers granted by the court.
While there are instances when a receivership is beneficial, there are also circumstances where they can be detrimental and expensive. At Resnick Law, P.C., our receivership lawyers can help you weigh your receivership options and make informed decisions regarding the business. Our attorneys can:
- Help a business seek a receivership
- Provide aggressive advocacy to a business fighting a receivership
- Advise a receiver on his or her rights and duties under the court order
- Act as a court-appointed receiver
To learn more about receiverships and to discuss your situation, contact our business law attorneys online or call us at 248.642.5400. We represent businesses and receivers in the Detroit area and throughout southeast Michigan.
Weighing the Pros and Cons of a Receivership
If you are considering the appointment of a receiver for your business or trying to avoid a receivership, it is important to carefully weigh the benefits and pitfalls associated with receivers. A receiver can help save a failing business or a business struggling with debt. He or she can act as a neutral third party, with experience helping streamline business plans, reduce costs and avoid bankruptcy.
On the other side, you will no longer have control over business decisions. Your business could fall under the control of your creditors and you may be forced into bankruptcy or dissolution. If the receiver’s expenses or control is not limited, a receivership can also be costly for your business.
At our firm, we can help you weigh these pros and cons and help you decide if a receivership is right for your business. If you are seeking a receivership or the court orders a receivership, we will provide skilled and aggressive advocacy. We will work to limit the receiver’s control and authority, to reduce costs, and seek to avoid a negative impact on your business.
Speak With a Receiver’s Lawyer
Whether you are a receiver or a business seeking representation, call us at 248.642.5400 or contact us online to schedule an initial consultation.