Ohio’s New Receivership Statute — Dayton
Date: June 03, 2015
Time: 7:30 a.m. - 9:00 a.m. EST
Contact: Ellen Geron, 937.443.6835 - Ellen.Geron@ThompsonHine.com
Please join us for an informative breakfast briefing specially designed for commercial loan officers, those in collections and special assets, underwriters and credit managers regarding the use of court-appointed receivers to exercise creditor remedies and maximize the value of distressed collateral assets located in Ohio.
Effective March 23, 2015, the Ohio Revised Code contains robust provisions for the court appointment of a receiver, which expands the statutory grounds for such appointments and expressly authorizes enumerated powers for receivers designed to facilitate the receiver’s ability to liquidate assets. This change in the law streamlines how receiverships are managed and should put to rest a number of obstacles that borrowers have attempted to put in the path of secured lenders. However, with the new language adopted by the legislature, the ability to exploit ambiguities and discrepancies in judicial interpretations of the powers of a receiver is diminished, particularly in the debtor-creditor context.
7:30 - 8 a.m. – Breakfast & Networking