Advantages of Rule 66 Receiverships Outlined in Colorado Banker Article by Lucas Schneider
Partner Lucas Schneider published an article, "66 … 6 Reasons Rule 66 Receiverships Are the Mark of Ingenuity" in Colorado Banker, the magazine for the Colorado Bankers Association.
The article offers six benefits of Colorado Rule 66 receiverships and details how "establishing a Rule 66 receivership can be a creative tool," particularly in situations like insolvency and other bankruptcy matters.
"Rule 66 receiverships allow creditors and claimants to possess, figuratively, a nimble, creative avenue to collect, assert claims, and close tumultuous matters, and possess, precisely, assets of a counterparty to achieve those goals," Schneider said. "When the route to relief appears unclear, a state receivership may be the less traveled device to achieve the creditor client’s objectives."
Schneider is an accomplished litigation and transactional attorney with a practice focused on helping lenders, telecoms, and insurers in bankruptcy, workouts, insolvency transactions, and complex litigation. He helps clients maximize cost-effective recoveries, and has litigated preference and fraudulent transfer claims, administrative claims, cure payments, stay and discharge violation claims, and exceptions to discharge, from New York to California.
Read the full article.