William J. Hoffman of Trigild, Inc. facilitated the sale of 62 franchise drive-in restaurants to the franchisor just 80 days after being appointed receiver. “By moving quickly we able to preserve the value of the stores and the lender recouped their capital investment in a relatively short period of time,” states Hoffman. “The resolution was especially beneficial since most of the sites were leaseholds and the franchisor was able to protect the territory and avoid any negative press or public perception by having closed stores,” continues Hoffman.
“We’ve been able to facilitate the sale of assets out of the receivership entity more and more often,” states Hoffman. “A quick sale not only preserves a higher value of the asset, but it also keeps the lender out of the chain of title, an especially important factor if there are any environmental issues.”
Hoffman and Trigild have served as court-appointed receiver, trustee, custodian or monitor for hundreds of assets. Hoffman is an attorney, Certified Hotel Administrator and Real Estate Broker, and serves on the American Bar Association’s Hospitality Liaison Committee.
Trigild optimizes non-performing loan recovery by combining receivership, management, and disposition services resulting in the fastest, easiest and most costeffective outcome. The company hosts the annual Trigild Lender Conference, the preeminent conference for commercial loan recovery.