Our team offers unique business and legal expertise, allowing businesses to save considerable costs throughout the receivership process

What is a Receivership?

For companies in financial crises, modern-day equity receiverships serve as a valuable tool, often avoiding considerable costs that would typically result from pursuing Chapter 11 reorganization under the Bankruptcy Code. In turn, the most attractive option for secured creditors faced with a faltering business may also be a state or federal court receivership.

A receivership is commenced by the filing of an action in either a state or federal court. Typically, a collateral receivership begins with the filing of a complaint by a secured creditor seeking to enforce its secured claim. That complaint is followed by a motion or application for the appointment of a receiver to take custody and control of the secured creditor’s collateral. Similarly, organizations facing insolvency or other financial distress can commence an action for dissolution and request the appointment of a receiver, pending the conclusion of the proceeding. In addition, a receivership can be instigated in the context of an ownership dispute over a business or real estate asset. 

With receiverships the statutory and case law authority is less defined (as compared to bankruptcy), making legal expertise as important as business know-how. At ISG, we are frequently selected as the first choice for receiverships because of our business and legal expertise.

Advantages of Receiverships


A single, secured creditor can choose a court receivership, making the process relatively easy to commence. In contrast, it takes three unsecured creditors holding unsecured debt to file an involuntary bankruptcy action.


The appointment of the receiver can be immediate. That means quick action to halt losses and protect assets, proceed to a sale, and in some instances, begin restructuring. Similarly, court-approved financing can be approved expeditiously, furthering the chances of a successful outcome.


Receiverships allow for customization of the receiver’s authority and methodology. The party seeking the appointment of a receiver can also recommend a specific receiver, allowing them to tap into a deep pool of expertise.

Receiverships Through ISG

Pre-filing analysis, timing, and selection of jurisdiction

Industry-specific experience backed by decades of success

Specialization from both a business and legal standpoint

Receiverships Cases


Total Assets


Total Liabilities

“I have had the great fortune to work with Joel Weinberg, Gunther Gee, and other members of the ISG team for more than 15 years. While most times I represent ISG in its capacity as an assignee/fiduciary, there have also been many instances where I’ve represented other parties in cases where ISG served as assignee. When referring to excellence many will refer to the 'gold standard.' In the case of Joel, Gunther, and all other ISG team members, I refer to them as the 'platinum standard' - a higher standard than that of gold - based upon the value and work quality, knowledge, intellectual curiosity, intellectual integrity, honesty, ethics, professionalism, and unwavering commitment to excellence. Simply stated, in every respect, ISG is second to none.”

– Richard H. Golubow, Esq., Winthrop Golubow Hollander

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