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…
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…
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…
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…
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…
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…
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…
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…
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.…
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…
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