Brooklyn Receiver Attorney

You move in the pending Supreme Court action — usually by order to show cause — with evidence that the property or business is at risk of loss, waste, or dissipation and that no lesser remedy will protect it. In Brooklyn, the motion is heard by the assigned IAS or Commercial Division part, and the court will want a proposed order that defines the receiver's powers precisely.

A temporary receiver can be appointed within days on an emergency application. The receivership itself typically runs from a few months to well over a year, depending on whether the underlying dispute settles, the asset is sold, or the business is stabilized and returned to its owners.

Receiver compensation is set by the court and paid from the receivership estate, not by the parties personally. Under CPLR 8004, commissions are capped at five percent of sums received and disbursed, subject to the court's discretion. Counsel and accountants retained by the receiver require separate court approval.

Yes, but regulatory approval matters. Liquor-licensed and cannabis-licensed operations require notice to and, in many cases, approval from the regulator before a receiver takes operational control. Handling that step late is the fastest way to lose the license and the value of the business with it.

Yes. Michael James is Part 36 approved and accepts court appointments in Brooklyn County, and also serves as counsel to parties seeking or opposing the appointment of a receiver.