The objective of a receivership is to protect and enhance the value of the assets and maximize return to the creditors. Not only do we understand that, we excel at it.
BIG’s receivership services are relied upon by banks, law firms, and courts throughout the region. The objective of each receivership is to secure the assets, stop any further deterioration in value of the assets, and maximize return to the creditors. BIG accomplishes this and makes improvements to the business model in question by tapping into our extensive business expertise, operations experience, and forensic analysis capabilities. We are able to quickly assess whether maximum value will be returned to the creditors through either a liquidation or a going concern sale.
When liquidation is inevitable, BIG identifies ways to minimize the cost of liquidation proceedings, accelerates the time frame for completion, and maximizes the value returned to creditors. Steps include:
- Collecting outstanding accounts receivables and selling remaining inventory, while maximizing the value in each;
- Liquidating hard assets, including warehouse equipment and machines, vehicles, real estate, and office equipment; and
- Pursuing litigation of fraudulent conveyance, mere continuation, and additional charges.
If a going concern sale is the determined route, BIG assesses the root cause of the business problem. Restoring profitability and cash flow while we determine the best course of action is always our first goal. Operational issues are carefully analyzed, strategies are developed to alter the business model, and non-essential and personal expenses are eliminated from the business. BIG has had much success negotiating the sale of companies as a going concern business, preserving the company’s value, saving jobs, and maximizing return to the creditors. Our methods include:
- Effectively managing the company's operations, including sales, procurement, inventory, manufacturing, and distribution;
- Generating cash flow from internal operations to fund continued operations of the company;
- Discovering and recovering diverted assets back into the company through forensic analysis;
- Reversing losses to break-even thresholds in short periods of time, often achieving profitability within 6-12 months; and
- Obtaining “stalking horse bids” and holding sale auctions (in one case we obtained a final sale price 30% higher than the “stalking horse bid”)
Receivership in North Royalton Ohio
Through business expertise, operations experience, and forensic analysis, our receivership services enhance the value of assets and maximize return to creditors.
We are the top North Royalton CPA Firm in Ohio.