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Receivers, Receiverships & Trustees


Almost no industry is immune from corporate failure or fraud, particularly in times of market distress. Federal equity and state court receivers rely on the wealth of knowledge and experience at the ready with Schwabe’s core industry groups and dedicated service teams to assist in discharging their duties in the efficient manner mandated by the courts, the Securities and Exchange Commission, and, ultimately, the stakeholders in the entities placed in receivership.

Many federal equity receiverships are the result of an entity being operated as a Ponzi scheme. Defrauded investors in Ponzi schemes are often left with minimal, if any, recovery of their investments. Schwabe assists federal equity receivers responsible for maximizing recovery to the investors in Ponzi schemes, with remarkable results. Currently, Schwabe is assisting the SEC-designated and ‎federal court-appointed receiver in the Aequitas ‎matter (Securities and Exchange Commission ‎v. Aequitas Management, LLC, et al., U.S. District Court for the District of Oregon, Case No. ‎‎3:16-cv-00438-JR ), arising from the collapse of a Ponzi scheme involving the fraudulent use of ‎approximately $557 million of investor funds. Many of the defrauded ‎investors have already recovered the majority of their investments. Based on current projections, many will ultimately recover over 80 percent of their investments, with some recovering more than 90 percent.


  • Served as general counsel to the receiver who was tasked with marshaling and preserving assets, operating receivership entities, assessing and marketing businesses for sale, pursuing and defending lawsuits, and assessing the validity of claims made against an estate. (SEC vs. Aequitas Management, LLC)
  • Represented the Chapter 11 and subsequently appointed Chapter 7 Trustee that the Court appointed to complete limited continued operations of a ship repair and engineering company prior to liquidation of its remaining assets for the benefit of creditors.
  • Represented the Chapter 11 Trustee appointed to develop and liquidate certain real property pursuant to a confirmed Chapter 11 plan.
  • Represented a Washington receiver in the successful disposition, through a competitive auction, of intellectual property and retail inventory assets of an online retailer. Sales yielded approximately $5.8 million for creditors.
  • Represented a secured lender in the appointment of a receiver in Oregon, leading ultimately to the successful sale of the borrower’s nursery operation assets (approximately $10.8 million).
  • Represented a Washington receiver in the sale of intellectual property and inventory assets of a mobile/sport camera enterprise.
  • Represented a cattle farmer/seller in enforcement of its lien rights in the Oregon receivership of a meat processor/buyer.

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