Cendrowski Corporate Advisors has an intimate knowledge of the challenges presented by defaulting business and real estate loans, foreclosure, and bankruptcy proceedings requiring court-appointed Receivership. We recognize that no two transactions are alike, and have a dynamic approach to working with or serving as Receivers to prepare and execute a plan for protection of operations and physical assets, thereby preserving asset value.
Our most active areas of appointments are real estate litigation and other related types of matters. There are many areas where the appointment of a Receiver may be useful.
Our extensive business knowledge, ability to rapidly deploy resources, and in-depth understanding of complex legal and managerial structure allows us to act as a Receiver and perform services including:
CCA secures all books, records, cash, check books, keys, codes, contracts, permits, and licenses from the Debtor/Owner and establishes new accounts for cash purposes. CCA establishes new financial controls and systematically audits all prior financials to establish consistent and accurate reporting to the Receiver.
CCA performs property, management, and physical plant inspections and makes recommendations on deferred maintenance and life-safety issues, vendor and supplier agreements, property maintenance contracts, and re-establishes operating requirements to ensure smooth operation of the business during the transition process.
CCA determines the capability of the on-site Associates and their ability to add value to the asset. We immediately switch payroll, employment manuals, and initiate training to ensure minimal Associate displacement. As need warrants, our ability to deploy new leadership and Associates is critical to the continued operation of the business.