Court-Appointed
Receivership
Fiduciary management of distressed hospitality assets under judicial authority — from appointment through final discharge. Operational control within 72 hours. Built for lenders, special servicers, and receivership attorneys.
Built for the Parties Who Need It Most
Lenders & Special Servicers
Weekly P&L, cash-flow reporting, and collateral preservation from day one. Structured to align with lender timelines and legal requirements.
Receivership Attorneys
Court-filed documentation, fiduciary compliance, and audit-ready workpapers. Every action documented as if subject to immediate judicial review.
Asset Managers & Owners
Operational control, NOI stabilization, and a clear path to performing status — with full transparency to all stakeholders throughout.
Operational Control in Four Phases
The first 72 hours are the most operationally critical. Every action is documented, every decision is within the scope of the appointment order, and every stakeholder is informed in real time.
- Confirm scope of court appointment order
- Assume physical control of property
- Secure all bank accounts and financial access
- Notify staff, vendors, lenders, and legal counsel
- Activate chain-of-custody documentation protocols
Asset is under formal fiduciary control. All parties notified.
- Conduct physical property inspection and condition assessment
- Review financial records, cash position, and outstanding obligations
- Interview key personnel and assess staffing continuity
- Identify critical vendor relationships and service risks
- Document all findings for initial court status report
Clear picture of asset condition, financial position, and immediate risks.
- Implement cash management and expense control procedures
- Establish receiver-controlled bank accounts
- Address critical vendor and service continuity gaps
- Stabilize staffing and communicate operational expectations
- Draft initial court status report
Financial controls active. Operations stabilized. Reporting cadence established.
- File initial status report with the court
- Finalize 30-day operational plan
- Establish weekly stakeholder reporting cadence
- Address deferred maintenance and property condition issues
- Activate ongoing KPI monitoring systems
Asset no longer in active deterioration. Court-aligned reporting live.
Every Document Prepared for Review
Our reporting posture is not calibrated to minimum requirements. It is calibrated to the most demanding review scenario — court, audit, or opposing counsel — because that is the only standard that holds up.
Operational & Cash-Flow Report
Revenue, expense, and cash position summary distributed to lenders, legal counsel, and the court. Same-week corrective action flagged where performance deviates from plan.
- Revenue and occupancy summary
- Cash position and liquidity status
- Expense variance vs. prior week
- Operational flags and corrective actions
Court Status Report
Comprehensive operational and financial update filed with the court on a defined schedule — without exception. Consistent format so changes in performance are immediately visible across periods.
- Full operational summary and key developments
- Revenue and expense overview
- Vendor and staffing updates
- Upcoming obligations and risk flags
Financial Reconciliation
Detailed accounting of all receipts, disbursements, and asset valuations. Prepared to withstand independent audit and legal review — structured as if an auditor will review it the following day.
- Full receipts and disbursements ledger
- Bank account reconciliations
- Vendor payment documentation
- Variance analysis against prior period
Disposition Proposal
Structured recommendations for asset sale, restructuring, or transition — formatted for court submission with full supporting analysis. Built to withstand scrutiny from all parties.
- Asset condition and performance summary
- Market context and comparable analysis
- Proposed disposition structure and rationale
- Financial projections and sensitivity analysis
No selective disclosure. All parties — lenders, legal counsel, and the court — receive identical information on the same cadence.
Full Reporting Framework →How We Operate Within the Engagement
Every receivership engagement is governed by a consistent set of fiduciary principles — applied regardless of asset size, jurisdiction, or complexity. These are not aspirational standards. They are operational requirements.
Court Authority First
All material actions are taken within the scope of the appointment order. Where authority is unclear, we seek court guidance before proceeding — not after.
Full Transparency to All Parties
Lenders, legal counsel, and the court receive consistent, accurate reporting. No selective disclosure. No delayed communication of material developments.
Documentation of All Material Actions
Every significant decision, transaction, and operational action is documented contemporaneously — creating a defensible record for court review and potential discovery.
Preservation of Asset Value
Operational decisions are made with a primary focus on preserving and, where possible, restoring asset value — not on administrative convenience or management efficiency.
Jurisdictional Compliance
Engagement structure, reporting obligations, and operational authority are aligned with applicable state receivership statutes and local court requirements from day one.
Specific fiduciary obligations vary by jurisdiction and are defined by the appointing court. In California, CCP §§ 564–570.5 govern receiver authority, bond requirements, and reporting obligations. Our engagement structure is built to align with these requirements from day one.
From First Contact to Operational Control
Initial Consultation
Confidential discussion of asset condition, stakeholder objectives, and legal context. Responded to within 24 hours.
Scope Proposal
Defined engagement structure, authority parameters, fee proposal, and deployment timeline — submitted for review.
Court Appointment
Coordination with legal counsel on appointment order language, bond requirements, and initial reporting obligations.
72-Hour Deployment
Operational control established. All stakeholders notified. Documentation and reporting cadence activated.
Court-Ready Documentation from Day One
Every document we produce is prepared with the assumption it will be reviewed by opposing counsel, an auditor, or the court. Workpapers are maintained in an organized, accessible format for discovery. Conflicts of interest are disclosed at the outset — engagements with material conflicts are declined.
- Court-filed status reports within 5 days of appointment
- Audit-ready financial reconciliations on a quarterly basis
- All material decisions documented contemporaneously
- California CCP §§ 564–570.5 compliance built in from day one
- Conflicts check conducted at engagement outset
Collateral Preservation. Weekly Reporting. No Surprises.
We are structured to align with lender timelines, legal requirements, and reporting expectations. All financial reporting is prepared for lender review and potential audit. Competing creditor claims are managed within the scope of the appointment order and applicable law.
Six-Step Process: Appointment Through Discharge
A detailed step-by-step overview of how a court-appointed receivership engagement is structured — from initial appointment and authority confirmation through final accounting and court discharge.
747-444-9097
corporate@bostyngroup.com
All inquiries handled with strict confidentiality. Responded to within 24 hours.