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Court approves receiver and professional fees in complex asset-concealment receivership.
The court considered a motion by a court-appointed receiver seeking approval of professional fees incurred during a complex receivership investigation.
The receivership arose after the judgment debtor engaged in extensive efforts to conceal assets through individuals and corporate entities in order to avoid enforcement of a judgment owed to a former spouse.
The receiver, counsel, and forensic investigator undertook substantial asset tracing and recovery efforts that resulted in over $2 million being realized for the estate.
The court found the professional fees reasonable and necessary given the complexity of the concealment and the extensive investigative work required.
The motion to approve the professional fees was granted.
Court approves settlements but defers ruling on substantial receiver professional fees.
A court-appointed receiver brought a motion seeking approval of settlements reached in efforts to enforce a substantial family law judgment and recover assets allegedly concealed by the respondent.
The receiver also sought approval of significant professional fees incurred during forensic investigations and asset recovery.
The court approved certain settlements and ordered an immediate distribution to the judgment creditor but adjourned the determination of professional fees and related matters to future hearings.
The court emphasized concerns that professional fees could significantly reduce the creditor’s ultimate recovery and directed that no further fee payments be made pending further consideration.
