BIG was appointed by the court as Receiver to maximize asset values for secured and unsecured creditors. BIG needed to assess the true value of the remaining assets in order to return the most proceeds to the creditors.
BIG was successful in its efforts to liquidate the remaining assets and distributed the proceeds to the secured creditor. This liquidation effort included selling off the remaining inventory and collecting the outstanding receivables. In an effort to identify every opportunity for proceeds, BIG also liquidated all fixed assets and equipment of the company.
Finally, BIG negotiated collection settlements on behalf of the company, initiated litigation where necessary, and provided forensic accounting services to assess and retrieve any assets transferred outside of the receivership.
The Bottom Line:
As Receiver, BIG was able to identify and assemble all of the assets of the former distributor, liquidating them and maximizing the value of the proceeds to the secured creditor.