Since January 1, 2006, the Trigild team has successfully handled eight receivership appointments which included 161 properties in 17 states. All assignments include the responsibility for day-to-day operations. These appointments include restaurants, retail, gas & convenience stores and one hotel.
“More and more judges are now granting authority to the Receiver to sell properties and other assets during the receivership period,” states the Trigild’s president Bill Hoffman. “Having the ability to begin marketing these assts during the receivership, rather than waiting to complete a lengthy foreclosure, speeds up the process and maximizes value and the ultimate recovery for the lender/servicer. In cases where there are also environmental or REIMIC issues, it allows the lender or special servicer to avoid taking title.”
“My first appointment as a Receiver was nearly 30 years ago and since then the use of a receivership estate to protect a lender’s security has grown markedly,” continues Hoffman. “Trigild continuously works to not only improve our own expertise in securing assets quickly and maximizing their value, but also to give our clients and their legal counsel the immediate and focused attention each assignment requires.”
Hoffman and/or Trigild has served as receiver, trustee, examiner, expert witness or workout consultant for hundreds of real estate related businesses, including restaurants, hotels, convenience stores, gas stations, golf courses, and water parks, as well as unique assets like a food processing company, barge terminal, shoe company and a variety of others. Bill Hoffman is an attorney, Certified Hotel Administrator and Real Estate Broker, and serves on the American Bar Association’s Hotels, Resorts & Tourism Executive Committee and the San Diego Receivership Forum.
Trigild specializes in interim and turnaround management services, often involving loan workouts, receivership or bankruptcy. The company and/or its principals have operated over 500 separate business entities to date. Additionally, the company provides long term management, operations and valuation assessments and other consulting services for owners as well as lenders.
The company’s annual Trigild Lender Conference has emerged as the preeminent educational forum for non-performing commercial loans and recovery, and will be held this year in San Diego on October 26th and 27th at the historic U. S. Grant Hotel.