ANCORA ASSET MANAGEMENT
949-633-3727
CALIFORNIA BRE #01959486
CA BRE BROKER #00668013
CORP NMLS ID #1188067
NMLS ID #1159042
EMail: De’Ann Clark
De'Ann Clark
CEO & President
De’Ann Clark is CEO & President of Ancora Asset Services. This is but a portion of Ms. Clark’s professional history as her expertise from her Appointments by the Courts to Receivership. She built the organizations required to recruit nationwide professionals to efficiently service real property in real time under her purview, and reporting progress concisely to the Courts.
What does a Court Appointed Receiver Do Exactly?
A Court-Appointed Receiver is an individual or entity appointed by a court to take control of, manage, and oversee certain assets, properties, or businesses in legal cases where there is a need to protect, preserve, or manage those assets. Receivers are typically appointed when there is a dispute or legal action, such as a foreclosure, bankruptcy, or a complex civil lawsuit, and the court believes that an impartial and qualified party is necessary to handle specific aspects of the case. Here's what a Court-Appointed Receiver may do:
Asset Management: Receivers are responsible for managing and preserving the value of assets involved in the case. This can include real estate, businesses, financial assets, or personal property. They may take over the day-to-day operations of a business, collect rents, or manage investment portfolios.
Debt Collection: In some cases, Receivers are appointed to collect outstanding debts owed to a plaintiff. They may be tasked with locating and liquidating assets to satisfy outstanding judgments or obligations.
Property Sales: If a property is subject to foreclosure or needs to be sold to satisfy a judgment or creditors, the Receiver may be responsible for marketing, selling, and distributing the proceeds from the sale.
Financial Management: Receivers can be appointed to manage the financial affairs of a person or entity in financial distress. They may develop financial plans, negotiate with creditors, and make decisions to improve the financial position of the entity.
Business Operations: When a business is in legal trouble, a Receiver can step in to ensure that the business continues to operate or to wind down its operations in an orderly manner. This may include managing employees, paying bills, and making decisions on behalf of the business.
Compliance and Reporting: Receivers are required to comply with court orders and legal requirements. They often have reporting responsibilities to the court and may need to provide regular updates on their activities and financial transactions.
Dispute Resolution: Receivers can also play a role in resolving disputes among parties involved in a case. They may facilitate negotiations, mediations, or other forms of dispute resolution to reach a settlement.
It's important to note that the specific duties and powers of a Court-Appointed Receiver can vary depending on the court's order and the nature of the case. Receivers are expected to act in the best interest of the parties involved and in accordance with the court's instructions. They are typically chosen for their expertise in managing specific types of assets or businesses and for their impartiality in cases where conflicts of interest could arise.
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Ancora Asset Services Inc., Lending Division
Phone (949) 951-1000 Ext.111 FAX (949) 951-1700
Also Providing Receivership Services
What exactly does a Court Appointed Receiver do? Find out HERE!