Court Authorizes Receiver to Sell Assets
March 7th, 2007 – Trigild was named the court-appointed Receiver for 42 convenience stores and gas stations, fuel supply company and a number of related companies in Michigan and Ohio. The court subsequently authorized the Receiver to sell all of the assets, and Trigild has retained Tranzon Hagen to assist the Receiver in that role.
“Our Receivership Task Force Team immediately began the detailed takeover process that includes seizing the multiple locations along with inventories, bank accounts and related assets.”
“Selling assets during the receivership period has become more common as it is often advantageous to both the lender and debtor because it speeds up the sales process to maximize recovery and also limits the lender’s liability exposure.”
Trigild is the nationally recognized specialist in non-performing commercial loans. The company has provided receiver and trustee services and managed hundred of properties and operating businesses nationwide for over 30 years. Property types include restaurants, hotels, convenience stores, gas stations, golf courses, marinas, water parks and more recently, condominium conversions.