Welcome to the latest edition of Heard in the Halls. Please provide your snippets of news, questions or comments about receivership issues or the professional community by telephone, mail, fax, or email to: Ryan C. Baker at Douglas Wilson Companies, 19200 Von Karman Ave, Suite 400, Irvine, California 92612; Phone (213) 550-2242; Fax: 800- 757-3668 (800-pls-don’t), Email: rbaker@douglaswilson.com.
Here is what we have Heard in the Halls …
• CRF’s Formation of a Referral Committee: Periodically, our CRF administration team receives requests from attorneys and others interested in engaging receivers. But who should they refer them to? This issue was brought to the attention of the CRF Board for consideration to develop a mechanism to appropriately handle such requests. At a recent CRF Board Meeting, the Board agreed to create a committee, led by Steve Donell, that would receive inbound requests for receiver referrals and, understanding the issues and expertise needed, the committee would make a recommendation as to qualified potential CRF members who may be able to handle the assignment. To maintain the integrity of the committee, one of its main tenets is that the matter may not be referred to any of the committee members.
• Uptick in Receiverships: In another (un)scientific poll done by yours truly, a noted sharp uptick in receivership activity is being reported throughout the receivership industry. By no means is the activity a tidal wave, however, it may be an indication of more to come. Despite the large amount of distress being seen in the commercial real estate sector, particularly commercial office, there has not been the deluge of appointments one might expect. But attorneys are reporting that their lender clients have been approaching them more and more regarding their options for their distressed collateral. However, in this cycle lenders are – at least for now – being more hesitant to pursue their rights, mainly because an exit strategy has not yet come into focus.
• Playing the End Game – CRF Education Panel: The CRF held another one of its famed education panels at Loeb & Loeb, LLP’s offices in Century City on October 17, 2023. Moderated by Ben King from Loeb & Loeb, LLP, the panel covered the ever-interesting and ever- pertinent topic of post-judgment receiverships—the source of their authority, how they’re implemented, how they’re best used, and useful strategies receivers can implement to maximize the value of a post-judgment receiverships. Panelists also included the very talented Kyra Andrassy from Smiley Wang-Ekvall, LLP, Oren Bitan from Buchalter LLP, and David Stapleton from the Stapleton Group.
• Gearing Up for Loyola X: Winter is coming… And before you know it, Loyola X will be here! So be sure to register soon to take advantage of the early-bird pricing. As a reminder the California Receiver’s Forum will be hosting the biennial receivership conference, the Loyola X Symposium, on January 18-19, 2024. This year’s theme, Riding the Economic Wave, aptly combines where the economic tides appear to be rolling, with this year’s location: The Hyatt Regency in Long Beach. Mark your calendars and be sure to attend this event, get up to date with all of the latest in receivership education, and enjoy seeing friends and colleagues from around the receivership industry.
• Loyola X Keynote: Our very own Bob Mosier will be headlining with the Keynote speech at the conference. In case you missed it on the front page, this issue includes an interview with the man himself touching on some of the topics he will be covering. The conference will also be featuring many evocative and interesting panels. These will also include a dual track approach to the afternoon sessions presenting a Receivership 101 track for newer members as well as a secondary track with more advanced panels on all our favorite topics.
•Last Chance for Sponsorship Opportunities: The Sponsorship Committee invites you to become a Sponsor of Loyola X! There are many options to choose from to best get your message in front of members. The distress industry is picking up in activity and the conference will be the perfect spot to spread your firm’s name to the distressed community. Visit https://receivers.org/loyola-x-symposium/ and click the “Sponsor/Exhibit” link at the top to review the many options available.
• Spread the Word: Know someone thinking about getting started in the receivership industry? Steer them to www.receivers.org to order a past Loyola program 4-disc DVD set for $75 teaching receivership Basics and including sample pleadings.
*Ryan Baker has been a Receiver for nearly 15-years and is with Douglas Wilson Companies. Mr. Baker has overseen receiverships of nearly every flavor including operating companies, rents and profits, construction, environmental contamination, regulatory, post judgment, and many, many others.