FW Attorneys quoted in DBJ Strategies of Law Edition - Practice Specialties
September 6, 2013
By: Caroline C. Fuller and John M. Tanner
The Denver Business Journal did a special report on seven niche law practice areas, including receivership proceedings. FW Attorneys Caroline C. Fuller and John M. Tanner were quoted in the discussion of receiverships, an area of law in which both attorneys practice.
A receivership proceeding presents an alternative to bankruptcy for addressing a financially-troubled company’s problems. “One of the primary differences between bankruptcy and receivership is who’s in control,” said Caroline C. Fuller, managing director at Fairfield and Woods, whose practice also includes bankruptcies and out-of-court debt restructuring. “Many receiverships are driven by a lender whose loans are in default, and it wants the company’s management out of control of the company.” Receiverships are also useful in situations where the owners are in dispute over the future direction of a company (including divorces involving a family-owned business), where management has abandoned its responsibilities, or where investors are concerned that management is breaching its duties to them.
John M. Tanner has written an article on receiverships as an alternative to bankruptcy; please click here to read.
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