Court Appointed Receiver & Manager
COMMERCIAL
REAL ESTATE
Don Allen & Associates led the
Court appointed Receivership of
six commercial properties, which
comprised of operating and non-
operating businesses that were los-
ing money, were out of control and
which had insufficient funds to sus-
tain the ongoing losses. Some of
these businesses were of a nature
that there was a high cash compo-
nent in doing business, with little or
not reporting of the business activi-
ties.
As Court appointed Receiver, Don
had to gain control of these busi-
nesses and properties, assess their
current state and continue to oper-
ate them while a sales strategy for
them was developed, approved and
carried out. There was poor and of the ongoing status and reported
incomplete record keeping and no to the Courts to obtain required ap-
effective management. Competing provals. All of the properties were
stakeholders required ongoing ef- sold, leading to an optimal realiza-
fective communication, strategy tion for the secured lenders.
development and obtaining con-
sensus.
Don established control of the
properties and developed a pro-
posed sales process. He met with
key stakeholders to update them,
DA Don
receive input and establish agree-
ment on a realization plan. He Allen
then worked with agents to put the & Associates Inc.
marketing plan in place, reviewed
potentially interested parties and Toronto · Barrie · Collingwood
negotiated offers to purchase to fi-
nalization. Throughout the process, 1-888-504-1511
Don kept the stakeholders apprised
www.djallen.ca