Receivership, Creditor Rights and Insolvency
Our firm has years of experience representing clients, fiduciaries and serving as a court fiduciary in insolvency proceedings in Rhode Island, Massachusetts, Georgia, Delaware and Florida.
We have been appointed by courts of equity to serve as court-appointed receivers to preserve, turnaround and/or sell distressed real estate assets and operating businesses. We have been appointed as a special master to oversee the orderly liquidation of operating businesses in the manufacturing, medical and hospitality industries. We have been approved to serve as debtor in possession counsel in Chapter 11 proceedings before the federal bankruptcy court in syndicated real estate entities, golf courses, an interstate moving company, an urgent care center, dairy farm and printing company. Some of our accomplishments include:
- We developed a receivership process in the City of Providence and successfully served as a receiver in statutory abandoned property receivership proceedings, assisting municipalities and neighborhood communities address blight and dangerous properties, through rehabilitation and sale with great success.
- In five years we rehabilitated 76 abandoned and dangerous homes, putting hem back on the tax rolls and making them viable houses for families, and returning hundreds of thousands of dollars to secured creditors and mortgagees.
- Our years of experienced coupled with our team of diligent attorneys have helped us to be honored with award winning turn around and liquidation achievements and acknowledgements.
- Our team accomplishments include appointment as special counsel to work hand in hand with a special master appointed to restructured and operate The Westerly Hospital. In this capacity we oversaw and operated the hospital physician medical group turning it to a profitable organization ultimately selling it to L+M Hospital preserving all jobs and ensuring continuation of provider services to over 20,000 patients.
- We have served as counsel to the ownership group of capital investors for an acute care hospital in a joint federal and state receivership involving the failed pension of the predecessor hospital.
- We operated, turned around and sold two 200+ room hotels, preserving jobs and making the secured creditors whole in the process.
- We successfully liquidated yacht manufacturer U.S. Watercraft resulting in a turnkey sale of all assets to Catalina Yachts.
- We have liquidated numerous manufacturing and construction concerns preventing the further deepening of the entity insolvency returning the proceeds to creditors in their order of priority. In the process we have litigated to recover monies owed for contract breaches and/or breaches of fiduciary duty.
- We have represented secured and unsecured creditors advising when to pursue claims and when to abandon them. On occasion we have worked in tandem with other receivers or trustees to pursue third parties to collect or use equitable theories and principals to recover misappropriated assets.
Whether you are a debtor, creditor or equity holder Indeglia Lutrario can address all of your concerns as an individual or business involving insolvency at the state or federal level.