Richardson, Harrington & Furness, Inc.
51 Jefferson Boulevard, Suite 7
Warwick, RI 02888
Tel. (401) 273-9600
Fax (401) 273-9605
A receivership involves the court ordered appointment of a receiver, or person, to oversee and, in most cases, operate and/or liquidate a business.
A receiver is a neutral and independent third party appointed to act on behalf, and for the benefit, of all interested parties. Their responsibilities may include the custodial responsibility for the property of others, both tangible and intangible assets, especially in those cases where a company cannot meet its financial obligations and is considered to be insolvent.