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Fiduciary Trustee and Bankruptcy Roles

Brahma Investment Group (Norwood, Ohio)

NGA Role • Sumner Saeks, of New Growth Advisors, was appointed receiver in Hamilton County Common Pleas Court to maintain and sell the property formerly operated as Quality Inn Norwood. Problem • The hotel closed in June of 2014 amid litigation in State, Probate and Federal Courts. • For sixteen months prior to appointment, together [ Read More ]

Fortress Storage Receivership (Milford, Ohio)

New Growth Advisors was recently appointed receiver in Clermont County Common Pleas Court of an operating self-storage facility in Milford, Ohio operating as Milford Fortress Storage after a large, national lender referral. NGA operated this medium sized self-storage operation, increased tenancy and monthly operating cash flow and sold the going-concern business operations and real estate [ Read More ]

Ashley Brooks, Inc. and Golf Course Management (Bethel, Batavia and Amelia, Clermont County, Ohio)

NGA Role • NGA was appointed receiver over two golf courses, a closed manufacturing operation and associated real estate including a residential property on the manufacturing premises. Problem • Need to liquidate the manufacturing operation. • Sell off the manufacturing and residential real estate. • Operate the Batavia golf course and obtain a sale of [ Read More ]

P&D Marble and Granite, LLC (Batavia, Ohio)

NGA Role • NGA was appointed receiver in the Clermont County Common Pleas Court. Problem • This company had ceased operation and its secured creditor had begun foreclosure proceedings. • Secured creditor sought a receiver to secure the real estate and liquidate the personal property and real estate. NGA Solution • NGA secured the premises. [ Read More ]

Executive Suites Plus, LLC (Beavercreek, Ohio)

NGA Role • NGA was appointed receiver by the Common Pleas Court of Greene County, Ohio. Problem • Former owner of this business sold the operation but continued to hold a secured debt owed by the operation and also guaranteed the lease of the operating entity to it landlord. The secured creditor sought a receiver [ Read More ]

Ole Fort IGA, Logan Street IGA and 709-711 Black Eagle Drive (Fort Recovery, and Celina, Mercer County, Ohio)

NGA Role • NGA appointed receiver by Mercer County Common Pleas court over the operating grocery store in Fort Recovery, Ohio and the shuttered former grocery store property in Celina, Ohio. • Subsequently the owner’s residential property was added to the receivership at the request of the secured creditor to obtain a receiver’s sale of [ Read More ]

P&P Develpoment Group, LLC (Cincinnati, Ohio)

NGA Role • Court appointed receiver in Common Pleas Court Hamilton County Ohio. • Obtain a receiver’s sale of this vacant building. Problem • Secured creditor foreclosed and wanted a receiver appointed to secure the premises and obtain a receiver’s sale of the property NGA Solution • NGA was contacted the day after appointment by [ Read More ]

Sunshine Mobile Home Park (Tipp City, Ohio)

NGA Role • NGA appointed by Miami County Court of Common Pleas to serve as receiver over real estate assets that had been in a Chapter 7 Bankruptcy. • NGA was then retained as Manager over the assets when the entity controlling this real estate sought protection under Chapter 11 of the Bankruptcy Code. • [ Read More ]

Phoenix Formations, Inc. (Cincinnati, Ohio)

NGA Role • NGA was initially approached by the senior secured creditor in this matter to act as court-appointed receiver to operate the business and liquidate its assets. • NGA was appointed by the Hamilton County Common Pleas Court to maximize the recovery of Phoenix Formations assets for all creditors. Problem • Owner bought out [ Read More ]

Amco Products, Inc. and NLR Properties, LLC (Dayton, Ohio)

NGA Role • NGA was appointed receiver in Hamilton County Common Pleas Court to operate and recommend to the court the whether the facility would be closed, sold as a going-concern or some alternative outcome. • Maximize recovery of asset value for all creditors. Problem • Amco Products saw many of its customers take their [ Read More ]