E3 Engaged in Receivership Alternatives

 

E3 Advisors is at the forefront of alternatives to receivership, which includes serving as a Provisional Director, Liquidating Agent, and Referee in recent matters. In addition, E3 has experience in Special Master and Post-Judgment Receivership – Collection matters.

The below further describes these duties and assignments:

Provisional Director – a temporary director appointed by the Court to serve on a company’s deadlocked board of directors. A Provisional Director has the same rights and duties as other directors. E3 principal, Tom Hebrank, has two ongoing Provisional Director assignments involving family disputes over a plant nursery and a marina in San Diego.

Referee – in a legal context, a person to whom a Judge refers a case to investigate the facts of a case, examine evidence and report to the Court on such findings. E3 principal Tom Hebrank is currently a Referee in a family dispute matter involving a commercial property in the San Diego Gaslamp District.

Liquidating Agent – a person appointed by the Court to sell the assets of a business, pay bills, close out the company’s business, and divide the remaining cash among shareholders, partners or other investors. A business need not be insolvent to liquidate. E3 principal, Tom Hebrank, serves as the Liquidating Agent of a San Diego area sign company that is the subject of a family dispute.

Special Master – a person appointed by the Court to complete a specific task or order, under the jurisdiction of the Court. An E3 principal has previously served as project manager on a Special Master assignment involving an extensive forensic accounting review in a father/son financial dispute. A review was conducted of all cash, real estate and partnership transactions involving 10 separate legal entities over an eleven year timeframe. The review consisted of over 2,000 financial and 200 real estate transactions, and culminated in a ruling settling the financial claims of the two parties.

Post-Judgment Receiverships are another alternative to assist in the collection process. There are many reasons for a judgment creditor to employ a post-judgment receiver. A post-judgment receiver often acts as a forensic accountant and may quickly investigate, locate and seize a judgment debtor’s assets. A post-judgment receiver can immediately seize a debtor’s bank accounts, equipment and financial records. A post-judgment receiver is also very helpful in fraudulent conveyance actions, and may set aside the improper transfer and recover the property.

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E3 has offices in San Diego and Los Angeles, California, and performs problem resolution work throughout the Southwestern United States; including extensive retail work throughout the United States.