How Receiverships Can Help You
Fortis Trustee Services, a division of Motleys, is proud to now offer receivership services to our clients!
Receivership is a court-appointed tool that can help creditors recover funds in default or can help companies avoid bankruptcy.
If you’re a business owner, a receivership can help with the restructuring of the company in an attempt to avoid bankruptcy. Receivership in this case can be thought of as a ‘time out’. Your receiver, or trustee, steps in to manage the company, its assets, and all financial and operating decisions. While the receivership is in operation, the company’s principals remain in place as material contributors. Our goal in these scenarios is to return your company to profitability.
If you’re a lender, a receivership can help you recover outstanding amounts due when a borrower defaults on a secured loan. They’re one of the most powerful tools available to protect creditors!
As your company’s receiver, Fortis will be able to make decisions regarding company assets and management decisions to ensure that the company operations comply with government standards and regulations while maximizing profits.