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WiseOwl58
WiseOwl58, Attorney
Category: Business Law
Satisfied Customers: 2468
Experience:  Experienced business lawyer.
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Can we petition the court to remove an appointed attorney in

Customer Question

Can we petition the court to remove an appointed attorney in a Chapter 128 Receivership when they do not comply with keeping you informed as to the progress of their collection efforts or detail of any disbursements made? When they took over our accounts, refusing our assistance to help them with the collections, we had about 2.5 million in receivables. To date, that we know of, they have collected less than $145,000 in nearly two years. Our direct requests for accounting of collections and disbursements have been blatently ignored. We want someone else on the job who will actively collect so the bank can get some repayment and not take our personal property to satisfy our debt!
Submitted: 1 year ago.
Category: Business Law
Expert:  WiseOwl58 replied 1 year ago.
Here is the law in Wisconsin regarding the removal of a receiver:

128.10 Meetings of creditors; removal or death of receiver.
(1)  The court may provide for hearings and meetings of creditors to elect a receiver or to pass upon matters submitted to creditors by a majority vote in number and amount of claims.
(2) The court may, upon notice and hearing, remove any receiver or assignee who is shown to be incompetent or to have become disqualified, or to have wasted or misapplied any of the trust estate; and shall remove any assignee or receiver upon the application of a majority of the creditors who shall represent a majority in number and amount of claims against said estate, and order a settlement of the receiver's or assignee's account and the surrender of all the estate to a successor, and shall appoint the person named in such petition or some suitable person as the receiver's or assignee's successor, who shall qualify in the manner provided by this chapter; and in place of any receiver or assignee who shall die or be removed, may appoint another who shall give bond and administer said estate pursuant to the provisions of this chapter.

I would suggest that you confer with the bank's legal department as they have the strong interest in getting that receiver removed since it will benefit them to have more rapid and efficient collections. If you can get the bank to file the application with the court it will be cost effective for you. Otherwise you can hire your own lawyer to do it, or you can confer with the self help legal center in your court if you wish to do it yourself.

Good luck to you. I wish you all the best.
WiseOwl58, Attorney
Category: Business Law
Satisfied Customers: 2468
Experience: Experienced business lawyer.
WiseOwl58 and 7 other Business Law Specialists are ready to help you
Customer: replied 1 year ago.


Thank you. I have copied what you have written here and am forwarding it to the attorney. I will leave high ratings... :)

Expert:  WiseOwl58 replied 1 year ago.
Thanks. Just let me know if you have any more questions, Barbara.

Be sure to put my name---Wise Owl 58 ---- in the first line and I will answer right away.

Thanks.
Expert:  WiseOwl58 replied 1 year ago.
Thanks. Just let me know if you have any more questions, Barbara.

Be sure to put my name---Wise Owl 58 ---- in the first line and I will answer right away.

Thanks.
Expert:  WiseOwl58 replied 1 year ago.
Thanks. Just let me know if you have any more questions, Barbara.

Be sure to put my name---Wise Owl 58 ---- in the first line and I will answer right away.

Thanks.
Customer: replied 1 year ago.

I do have an additional question that is related to this same issue: We received a check that pays one of our old outstanding invoices for the company that is in receivership. We desperately need to pay our attorney and accountant fees so that we may continue to muddle through our financial situation both on a personal and a business standpoint. There are also outstanding business withholding taxes owed to the IRS that are being assessed to US, personally, as officers of the corporation. What kind of trouble would I be looking at if I took this check and used the funds to pay down on these three items rather than sending the check to the company hired by the firm granted the receivership? They don't even know these funds exist. I have also been receiving phone calls and letters from a third party called "Professional Finders" who claim they have "found" an outstanding check of approximately $50,000 issued to our company and will, for a fee, recover the funds for us. Should I turn this information over as well, or ignore it?


 


Thank you,

Customer: replied 1 year ago.
Relist: Answer came too late.
Expert:  WiseOwl58 replied 1 year ago.
Thank you!

Please let me know if you have any other questions. Just put my name---Wise Owl 58--- in the first line and I will get it and respond.

All the best.

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