A History Of Groundbreaking Work With Court-Appointed Receiverships
The work undertaken by Seiden Law has included dozens of court-appointed receiverships on behalf of our clients, including complex international matters. Whether enforcing judgments or managing businesses in situations of distress or litigated disputes, we are diligent in our approach to every receivership. Our experience has included running companies for the benefit of creditors and enforcing judgments in the U.S., China, the Cayman Islands and Hong Kong.
When the court appoints a receiver, that person takes possession of specific assets to manage or liquidate that property, investigate fraud or perform other duties on behalf of the court. This can be done to enforce a legal judgment or assist creditors in recovering funds.
Robert Seiden, Managing Partner of Seiden Law, has been appointed by federal and state judges in the United States over twenty-five times as a Court-Appointed Receiver over businesses in a broad spectrum of industries, including biotech, pharmaceutical, real estate, clean energy, and oil and gas. The work has led to the recovery of many millions of dollars for the plaintiffs and included, among other responsibilities, tracking down assets in various jurisdictions including Hong Kong, China and the Caribbean.
Our Representative Case Work Includes:
- Trustify Inc., a privately held technology start-up company, as receiver appointed by Delaware Chancery Court, against Danny Boyce, the former CEO indicted for mail and securities fraud.
- Sino-Clean Energy, Inc., a clean coal manufacturing company with shares that had been listed on NASDAQ, as court receiver appointed by Supreme Court of Nevada to recover assets for US investors.
- Link Motion Inc., a leading smart car company, as court receiver pursuant to an order by the Grand Court of the Cayman Islands and appointed by the U.S. District Court for the Southern District of New York that stemmed from a series of alleged misconduct by the company’s chairman.
- A company processing and trading raw jade and jade-carved artworks in China with reportedly the distribution rights to a valuable jade mine, as court receiver appointed by the Nevada Second Judicial District Court. The court entered a judgment in the amount of $75 million.
- A health and nutritional supplement business and a crude oil exploration and production company in China, as court receiver, appointed by the Nevada Second Judicial District Court, after the companies went dark in reporting to SEC in the U.S.
- China Valves Technology, Inc., the second largest valve company in China that went dark after raising capital from U.S. investors, as receiver appointed by the Supreme Court of Nevada.
- An Ohio-based chemical manufacturing business resulting from a dispute between the chairman and secured creditor, as federal equity receiver appointed by the U.S. District Court for the Southern District of New York to work out a structured settlement.
- A publicly-held nutrition drink company as receiver appointed by the Nevada Second Judicial District Court, in taking control of offshore entities and working with management toward the sale of assets or settlement.