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Case Studies

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 ]

Trade Show Display Company (Hebron, KY)

NGA Role • NGA having recently completed the liquidation of Phoenix Formations was sought for this engagement of a similar business. • NGA was engaged as liquidation agent for the secured lender to this defunct business in order to maximize the recovery of asset value. Problem • Trade Show Display Company was shut down when [ 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 ]

Tekaho, Inc. d/b/a Alaska Acres Care Center (Cincinnati, 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. Problem • This 68 bed skilled long-term care facility was operating at too low a census and collections on resident [ Read More ]

South Ross, LLC (Brown County, Ohio)

NGA Role • NGA was appointed receiver in Brown County court to operate and sell two car washes; one in Fayetteville, Ohio and the other in Mt. Orab, Ohio. Problem • Management mismanaged these car washes and stopped making their secured creditor payments. • Secured creditor foreclosed and asked for the appointment of NGA as [ Read More ]

Screw Machine Products Company (Amelia, Ohio)

NGA Role • NGA was retained at the recommendation of the secured lender to provide turnaround consulting, management coaching and refinancing guidance. Problem • Third-generation managed company had fallen on hard times due to loss of major customers, lack of cash to purchase raw materials, lack of credit with vendors and challenges with customers. NGA [ Read More ]

THR, Inc. Receivership (Hamilton, Ohio)

NGA Role • NGA appointed as receiver over certain real estate of this company by Butler County Court of Common Pleas. Problem • These distressed multi-family properties were in neglect due to lack of capital for repair and maintenance. • Affordable Housing deed restrictions posed challenges in marketing properties for sale. • Tenant population presented [ Read More ]

David Robinson Receivership (Cincinnati, Ohio)

NGA Role • NGA appointed as receiver over these two multi-family apartment buildings by Hamilton County Court of Common Pleas. Problem • These two buildings were experiencing vacancy issues, operating problems and tenant distress. NGA Solution • NGA retained a management firm to provide day-to-day management in this multi-family situation. • NGA solicited interested parties [ Read More ]