Petroleum Receivership

If you aren’t bringing in a qualified, experienced petroleum property receiver, you are losing value for your business.

Lenders with non-performing petroleum property loans can count on us to provide all the services they need. Trigild can serve as a receiver or bankruptcy liquidating trustee, operate the business, preserve and protect the asset, and – if necessary – sell the property without the lender having to go into the chain of the title.

With decades of experience and hundreds of receivership appointments in our portfolio, we know what it takes to devise sound strategies leading to long-term solutions that maximize financial performance. Our staff of attorneys, paralegals, CPAs and MBAs has worked through every conceivable phase of receivership law. Their goal is to locate and seize key elements of the assets, ensure that the business runs smoothly and efficiently while helping to protect the lender from liability and expedite discussions with the lender’s legal counsel.

Our receivership team has a track record validated by nearly 100 percent rate of judicial appointments in both state and federal courts.

• Takeover report – We compile vital information about the asset with timely, accurate, detailed accounting and reporting.
• Consulting enterprise valuations – We make a hands-on assessment of operations, competition, location, and profit and loss statements and partner with the nation’s top real estate brokers to determine potential recovery..
• Seizure of Assets – We take a comprehensive inventory of and locate, seize and account for all assets of the receivership/bankruptcy estate, including bank accounts, cash banks, and petty cash, as well as all other monies and securities.
• Court Reports – We assist the lender’s legal counsel in preparing the “Order Appointing Receiver” to assure all issues are addressed in the first hearing, avoiding repeat trips to court. Our staff also prepares and files all receiver’s documents and serves all appropriate parties, winding up the receivership, finalizing accounting, transferring licenses and franchises, filing final reports, and securing court approval and discharge.
• Contracts and Leases – We have the extensive legal and operational expertise, in license and franchising negotiations, transferring of licenses, and as appropriate, termination. This includes franchise, liquor, lottery and gaming licensing; franchise limited license agreements, government permits and room tax, sales, and other government taxes.