We're glad to have Dottore Companies, LLC as the Receivership Training Camp Sponsor for our Oct. 18-20 NAFER Annual Conference! You can learn more about their services here:
For a new NAFER member who may not be familiar with your company and/or its solutions, can you tell us a bit about how your company/organization is formed and its key value propositions to receivers?
Dottore Companies LLC is unique in that we offer all necessary receivership services under one roof: business management, legal and accounting. When appointed as receiver, we normally do not hire additional outside attorneys or accountants. We have learned that courts know and trust each battle-tested team member and therefore have confidence in our team approach. Over time, distressed companies have called on us for out of court restructuring services for the same reasons: the restructuring advice is multifaceted and all services are available in one place.
What advice would you give someone who has recently entered into the receivership industry based on your interactions with so many in this line of work?
A receiver must have the hide of a rhinoceros and the patience of Job and the negotiating skills of King Solomon. A receiver must know when to fight and when to try to mediate. A good receiver order is the best tool for the efficient management of receivership assets. Develop your order as a template, keep it updated, and provide it to persons seeking to identify you to a court as a proposed receiver. Have professional resumes available for all team members, with a list of the types of cases that they have worked on.
What are some of the tools that you feel are unknown or underutilized to some clients/NAFER members that you provide that you feel would be beneficial to be exposed to for their practice?
We regularly offer receiver-related services in divorce cases. Often, a substantial business is involved. The business becomes a target of the divorce dispute because of distrust between husband and wife. A receiver can (1) provide transparency; (2) remove issues of distrust between the parties by, for example, verifying the income of the business; and (3) sell the business or other assets in a neutral environment. Providing receiver services in divorce cases leads to other engagements within the divorce case, such as mediation services.
What have you found valuable in your membership in/involvement with NAFER?
The high level of receivership expertise and the different backgrounds of NAFER members (lawyers, accountants, and business people) provide an unequaled learning environment. The different ways that members approach problems and their proposed solutions are incredibly creative and instructive and their willingness to share their experiences is gratifying. Membership in NAFER has provided us with the credibility we need to land bigger and more profitable cases.