Rim Hospitality facilitates receivership services in the following areas: Review Order Rim Hospitality assumes the responsibilities of the Proposed Receiver and reviews Order for language critical in the protection of the hotel assets. Initial Court Appearance Rim Hospitality, as Proposed Receiver, appears before a local judge for purposes of providing testimony, presenting qualifications, and setting the Bond and issuing Order. Takeover Services As Receiver, the Rim team arrives at the hotel with an order to take immediate possession of all real and personal assets. This includes, but is not limited to, securing cash on the property and seizing all accounts. Notification of Receivership status is sent to franchise, all vendors, lessees, and other interested parties. Rim human resources specialists are available during this transition. Post-Takeover Services Rim handles the Receiver’s ongoing operational and administrative duties include, but are not limited to:
Reporting Rim prepares a monthly Receiver’s Report as directed by the Court using standard accounting practices and issues a final accounting to the Court after foreclosure in a thorough and timely manner. Ongoing Court Appearances Rim provides testimony for any ongoing legal issues, including but not limited to: Borrower’s contesting appointment of Receiver, the Borrower’s failure to comply with Order of Performance or other illegal acts, and procedures in Borrower’s filing for bankruptcy. Other Services Available Rim specialists are available to discuss your special needs particular to your property. |