Receiver

Hays professionals have served as receiver or financial consultants to the receiver in a wide variety of insolvent businesses and fraudulent securities offerings, including leading roles in dozens of SEC, FTC and CFTC receivership cases in numerous states.

Select Receiver Appointments:

Echelon
Engaged as the Receiver for this high-end community development and Rees Jones championship golf course after a petition was filed by the bank group who had provided the funding for the development. Post-foreclosure we were retained by the bank group, as the new owner, to continue managing the daily operations of the golf course and development. During our tenure we made capital improvements to the golf course, managed a full maintenance and pro shop staff, added new members, and managed the homeowner’s association and architectural review board.

Mandeville Mill Lofts
Appointed as Receiver in the Superior Court of Carroll County, in March 2009. The firm served as Property Manager for this 78 unit loft style apartment complex, and managed, marketed and sold the property.

Atlanta Hyundai
Appointed as Receiver for this franchise automobile dealership which sold new and used vehicles and operated a body shop and full garage.

SEC v. Mobile Billboards
Served as Receiver for mobile billboards sale leaseback investment program that raised over $80 million. Pursued litigation against professionals, operated a business and made a distribution to investors.

The Ridges at Lake Chatgue
Appointed as the Receiver for this resort property which includes 2 restaurants and a marina. We are operating the property and dealing with various issues including those associated with liquor licenses.

SEC v. Pinnacle Development Partners, LLC
Served as Receiver for this real estate investment partnership that raised over $60 million.

SEC v. Albert E. Parish & Parish Economics
Served as Receiver for this investment program that involved 5 investment pools and operated for more than 10 years. Over $110 million was raised, with estimated investor losses exceeding $70 million.

SEC v. Travis E. Correll & Horizon Establishment
Served as Receiver for this “Ponzi” scheme that sold alleged investments in foreign and international bank deposit programs. Over $150 million was raised by the offering.

CFTC v. Lake Dow Capital
Served as Receiver for this $27 million hedge fund that was shut down by the CFTC.

CFTC v. Cornerstone Capital Management, LLC
Served as Receiver for this investment group. Recovered funds in this hedge fund fraud case and distributed proceeds to investors.

Bankruptcy Plan Fiduciary