RECEIVERSHIP

 
 
 

A Receivership is a court appointed position in which an individual is given the fiduciary responsibility to preserve and protect receivership property, which includes tangible and intangible assets and rights.

Receivership requires the strictest of trust relationships. As a court-appointed receiver, knowledge about receivership laws and concepts are vital. Receiverships require leadership, experience, knowledge, management and business operation skills.

ALPS Group®  has an experienced team of bonded and insured Court-Appointed Receivers that provide services Nationwide.

At ALPS Group®, our Receivers assist in

  • Equity/ Collateral is where a Receiver is there to control and operate the business. The Receiver analyzes what is best for the business and implements the plan.

  • Regulatory receivership appointments to insure protection and preserve investor funds.

  • Secured creditor cases where lenders are proceedings in real estate foreclosure actions and requesting a Receiver to protect the asset.

ALPS Group® Court-Appointed Receiver Qualifications

All ALPS Group® Receivers are experienced in court on a variety of asset types and have met certain ALPS Group® requirements. These requirements are that all receivers have knowledge of legal proceeding, construction and have a paralegal certification. In addition, they are required to earn CLE and CEU credits on a regular basis and to author articles related to their field.

We are members of National Association of Federal Equities Receivers (NAFER), California Receiver Forum (CRF), Chicago Bar Association (CBA), American Bar Association (ABA) and Part 36 Certified (New York).

ALPS Group® Service Types

Retail facilities, malls, commercial strip centers, dry cleaners, laundromats, golf courses, mobile home parks, residential developments, multi-family facilities, apartment complexes, single family and mixed use developments, gas stations, car washes, storage facilities, medical facilities, hotels/motels, restaurants, convenience stores, mid-rise buildings, condominiums, daycare facilities, industrial parks, warehouses, office parks, churches, marinas, equestrian facilities, OEM/manufacturing, construction sites and business operations/business dissolution, governmental, regulatory agencies, equities recovery and oversight.

 
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Jim Paul

DIRECTOR

EXPERIENCE

 

Since its inception in 1995, the ALPS Group has specialized in the commercial, industrial and residential real estate industry along with business operations.

 

ALPS Group expertize is in State and Federal Receivership, Property Management, General Construction & Remediation, Real Estates Sales and Leasing. Mr. Paul’s areas of concentration include: 

 

Serves as court-appointed receiver on behalf of lenders, servicers or note buyers.  Coordinates and controls all activities associated with the asset(s).  Determines appropriate sell/hold strategy to promote recovery while minimizing additional exposure.  Engages qualified professionals to assist with valuation and disposition of asset(s) as appropriate and specializes in maximizing asset value and risk management.

 

Types of Asset Management: Retail, malls, commercial strip centers, golf courses, mobile home parks, residential developments, multi-family, mix-use, homeowner associations, gas stations, car washes, storage facilities, medical facilities, hotels/motels, restaurants, convenience stores, mid-rise buildings, daycare facilities, industrial parks, warehouses, office parks, churches, OEM/manufacturing, construction sites and business operation and dissolution.

 

Our Receivership and Property Management services the continental United States. 

 

ACCOMPLISHMENTS: 

  • State and Federal Receiver in multiple states

    1. Part 36 New York Receivership Approved

    2. Founded The ALPS Group in 1995

    3. Top Gun Producer in multi-million dollar real estate sales

  • Management and coordination for various commercial, industrial and residential properties. This includes normal operations, leasing, minor and major renovation including sales coordination

    1. Advisory Consultant to the lending institutions and investment groups for Asset Management and REO disposition, including asset evaluation

    2. General Contractor for various high level commercial and residential projects

    3. Recognized for Creative Community Development Design (eCommunity) by Crain’s Business

    4. Past Director for the Southwest Home Builders Association

    5. Past Associate Director for the Soil & Water Conversation District

    6. Past CEO and owner of EcoGuard Mold Remediation

 

EDUCATION

  • Purdue University, Indiana - Bachelor of Science in Electrical Engineering

  • Purdue University- Inland Steel - Research & Development-Blast Furnace Research

  • Northern Illinois University, Illinois - Land Development I & II Certification

  • Governors State University, Illinois - MBA Courses

  • Purdue University, Indiana - Paralegal Certificate

  • IREM - CPM Candidate (Certified Property Manager)

 

PROFESSIONAL AFFILIATIONS AND MEMBERSHIPS

  • Chicago Bar Association (CBA)

  • American Bar Association (ABA)

  • Institute of Real Estate Management (IREM)

  • National Association of Residential Property Managers (NARPM)

 

RECEIVERSHIP/PROPERTY MANAGEMENT CONSTRUCTION LIST (PARTIAL HISTORY)

PROPERTY TYPE LOCATION

Restaurant Orland Park, IL

Laundromat & Cleaners Chicago, IL

Commercial & Residential Complex Daytona, FL

Commercial Building Akron, OH

Restaurant Joliet, IL

Residential Buildings Paducah, KY

Gas & Convenient Stations Watseka, IL

Commercial Retail Sarasota, FL

Restaurant Crest Hill, IL

Laundromat & Dry Cleaners Center Chicago, IL

Golf Course-Twenty Seven Hole Course Beecher, IL

Residential Subdivision Lynwood, IL

Commercial-2-Unit Elbridge, NY

Restaurant Joliet, IL

Storage & Office Facility Chicago Ridge, IL

Industrial Warehouse Racine, WI

Mobile Home Park – 57 Unit Gary, IN

Residential Building- 8 Unit Rochester, NH

Residential & Commercial Development Crest Hill, IL

Industrial Building Ringwood, IL

Restaurant Chicago, IL

Residential Building- 7 Unit Norwich, NY

Residential Building Ashland, KY

Restaurant Plainfield, IL

Commercial – 18 Unit Retail Crown Point, IN

Commercial- 171 Unit Apartment Complex DeKalb, IL

Residential- 12 Unit Fitchburg, MA

Residential Building- 8 Unit Newport, NH

Commercial & Residential Building Peekskill, NY

Gas & Convenient Station Chicago, IL

Commercial Building-20 Unit Mt. Oliver, PA

Commercial Building Mine Hill, NJ

Commercial Condo Ft. Meyers, FL

Restaurant  Chicago, IL

Apartment Complex- 28 Unit Hammond, IN

Residential Subdivision Lake Mills, WI

Apartment complex- 17 Unit Hammond, IN

Multi-unit Luttrell, TN

Restaurant Chicago, IL

PUBLICATIONS

  • Receivership Tips for Foreclosure Cases Community Bankers Association- Banknotes

  • Court – Appointed Receivership Community Bankers Association- Banknotes

  • From one Developer’s Point of View Crain’s Business

  • Drafting Court Orders for Receiverships ALPS News

  • Got Mold ALPS News

  • Property Taxes and Assessments ALPS News

  • Foreclosure Receivership Think Realty

  • Understanding Receivership and Foreclosure Think Realty

  • Finding Foreclosures Think Realty

 

SPEAKING ENGAGEMENTS

  • Information Management Network – Florida

 “Working with & Evaluating Crisis & Turnaround Managers, Restructuring Advisors and Receivers”

 

  • Information Management Network – Florida

 “Receiver’s --- When and How Should you Use Them”

 

  • Various Speaking Engagements at lending institutions and investment groups for” Lunch and Learn” panel discussions addressing various topics that concern the industry with Foreclosure Properties

 

  • Various Speaking Engagements at lending institutions and investment groups for” Lunch and Learn” panel discussions addressing various topics that concern the industry with Mold Remediation

 

  • Various Speaking Engagements at lending institutions and investment groups for” Lunch and Learn” panel discussions addressing various topics that concern the industry with Concealed Firearms

 

  • Cluster Development- Will County

  • Information Management Network – Chicago

“Receiver’s --- When and How Should you Use Them”

  • Information Management Network – Chicago

“Receivers: There When You need Them”

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Kim Cahalan

DIRECTOR

EXPERIENCE

 

Since its inception in 1995, the ALPS Group has specialized in the commercial, industrial and residential real estate industry.

 

Ms. Cahalan and the ALPS Group’s expertise to specialty assignments are wide-ranging.    Ms. Cahalan specializes in State and Federal Appointed Receiverships.  She is proficient in dealing with tenants and their various issues and concerns, with special attention given to the handling of eviction cases.  She is capable of providing one-on-one site visits and interviews witnesses in all investigation cases. Ms. Cahalan acts as the point of contact with case attorneys representing both sides of the Receivership process and is responsible for compiling the case logs/pleadings for all files.

 

Ms. Cahalan has been trained and educated in non-receivership criminal investigations to assist investigators and detectives working with governmental entities. Ms. Cahalan’s area of concentration include:

 

Serves as court-appointed receiver on behalf of lenders, servicers or note buyers.  Coordinates and controls all activities associated with the asset(s).  Determines appropriate sell/hold strategy to promote recovery while minimizing additional exposure.  Engages qualified professionals to assist with valuation and disposition of asset(s) as appropriate and specializes in maximizing asset value and risk management.

 

Types of Asset Management: Retail, malls, commercial strip centers, golf courses, mobile home parks, residential developments, multi-family, mix-use, homeowner associations, gas stations, car washes, storage facilities, medical facilities, hotels/motels, restaurants, convenience stores, mid-rise buildings, daycare facilities, industrial parks, warehouses, office parks, churches, OEM/manufacturing, construction sites and business operation and dissolution.

 

Our Receivership and Property Management services the continental United States. 

 

ACCOMPLISHMENTS

  • State and Federal Receiver in multiple states

  • Part 36 New York Receivership approved

  • Management coordination for various commercial, industrial and residential properties. This includes normal operations, leasing, minor and major renovation including sales coordination

  • Advisory Consultant to the lending institutions and investment groups for Asset Management and REO disposition, including asset evaluation

 

EDUCATION

  • Olivet Nazarene University – Bachelor of Science in Criminal Justice

  • Purdue University – Paralegal Certificate

  • California Receivers Forum, California – Loyola V Complex Case Symposium

 

PROFESSIONAL AFFILIATIONS AND MEMBERSHIPS

 

  • National Association of Federal Equity Receivers (NAFER)

  • Chicago Bar Association (CBA)

  • Institute of Real Estate Management (IREM)

  • National Association of Residential Property Managers (NARPM)

 

RECEIVERSHIP/PROPERTY MANAGEMENT CONSTRUCTION LIST (PARTIAL HISTORY)

PROPERTY TYPE LOCATION

Commercial Building-8 Units Newark, NJ 

Commercial Building Stratford, CT 

Commercial & Residential Complex Daytona, FL 

Commercial Building Akron, OH 

Residential Building Siler City, NC 

Residential Buildings Paducah, KY 

Commercial Retail Sarasota, FL 

Commercial - 2 Unit Buffalo, NY 

Commercial - 6 Unit Holbrook, MA 

Golf Course-Twenty-Seven Hole Course Beecher, IL 

Residential Subdivision Lynwood, IL 

Commercial-2-Unit Elbridge, NY 

Commercial- 1 Unit Pawling, NY 

Storage & Office Facility Chicago Ridge, IL 

Industrial Warehouse Racine, WI 

Mobile Home Park – 57 Unit Gary, IN 

Residential Building- 8 Unit Rochester, NH 

Residential & Commercial Development Crest Hill, IL 

Industrial Building Ringwood, IL 

Commercial Retail Naples, FL 

Residential Building- 7 Unit Norwich, NY 

Residential Building Ashland, KY 

Apartment Complex Claremont, NH 

Commercial – 18 Unit Retail Crown Point, IN 

Commercial- 171 Unit Apartment Complex DeKalb, IL 

Residential- 12 Unit Fitchburg, MA 

Residential Building- 8 Unit Newport, NH 

Commercial & Residential Building Peekskill, NY 

Industrial Ringwood, IL 

Commercial Building-20 Unit Mt. Oliver, PA 

Commercial Building Mine Hill, NJ 

Commercial Condo Ft. Meyers, FL 

Commercial- 4 Unit Cape Coral, FL 

Apartment Complex- 28 Unit Hammond, IN 

Residential Subdivision Lake Mills, WI 

Apartment complex- 17 Unit Hammond, IN 

Multi-unit Luttrell, TN 

Church Complex Various Locations 

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Ron Carlson

DIRECTOR

EXPERIENCE

Serves as court-appointed receiver on behalf of lenders, servicers or note buyers.  Coordinates and controls all activities associated with the asset(s).  Determines appropriate sell/hold strategy to promote recovery while minimizing additional exposure.  Engages qualified professionals to assist with valuation and disposition of asset(s) as appropriate and specializes in maximizing asset value and risk management.

TALMER BANK AND TRUST – Lake Geneva, Wisconsin 2010-2012

$2.5B, 55 Branch National Bank Operating in Michigan, Wisconsin, & Illinois

Regional Managing Director & Counsel

Responsible for regional management of the Wisconsin and Illinois division consisting of 8 FTE’s and $200MM in substandard loans under administration, plus 250 OREO properties within the provisions of an FDIC Shared Loss Agreement.  Portfolio includes CRE, C&I, Ag, Mortgage and Retail credits.  Responsible for all aspects of the portfolio including risk rating, strategy, restructures, forbearances, sales, litigation, and liquidations.  The OREO portfolio includes residential and commercial developments, mixed use properties, residential and commercial condominiums, land, and rental properties.

 

Senior voting member of the Asset Disposition Committee

Structured and grew the division from its inception

Establish  strategy and monitor performance of workout plans for all assets

Caused a material reduction in the non-performing asset base of the bank

Direct sales process for OREO properties

Develop policies and procedures

Bank spokesperson for FDIC audits and exams

Provide technical assistance to market lenders regarding loan structure, documentation, and servicing issues

Oversee litigation, including management and supervision of outside counsel and budgets

Corporate development and training activities

Build relationships with customers, vendors, and communities

 

AMCORE BANK, NA n/k/a BMO HARRIS BANK, NA – Rockford, Illinois 2001-2010

$5B, 79 Branch National Bank Operating in Illinois & Wisconsin

Senior Associate General Counsel & Asset Risk Manager

Report to the Chairman and CEO; oversee all legal disputes and litigation for the Bank,  including management and supervision of outside counsel and budgets; managed enterprise wide risk management activities, including the Asset Risk Management Division; structured, and grew the Division from its inception, ultimately consisting of 25 FTE’s, and $800MM in assets under administration, plus OREO.

 

Member of Executive Committee which established strategy and reviewed performance

Caused a material reduction in the non-performing asset base of the bank

Value bank assets for regulatory, and public accounting purposes

Modified credit culture, and practices of Bank to better reflect risk profile of borrowers

Managed establishment of $120MM internet based commercial note sales platform

Directed sales process for hundreds of properties ranging in value up to $10MM

Bank regulatory spokesperson for OCC and FDIC credit exam case review process

Awarded Ring of Excellence in 2007

 

PRIVATE PRACTICE OF LAW – Milwaukee, Wisconsin 1984-2001

Partner

Representation of corporate and individual clients in general business, financial and corporate matters, bankruptcy, corporate reorganizations/workouts, consumer and commercial litigation, real estate, and transactional work.

Counsel to NASDAQ Company, Security Capital Corporation, a financial services holding company, and its primary subsidiary, Security Bank

Assisted with the initial public offering of Security Capital Corporation (raised $640MM)

Prepared companywide policy and procedures, assisted with conduct of annual and special shareholder meetings, preparation of annual reports and proxy statements and periodic SEC reporting for Security Capital Corporation

Maintained corporate records for Security Bank and subsidiaries

Merger of Security Capital Corporation and Security Bank with M&I

Counsel in bankruptcy, liquidation collection, foreclosure, and repossession cases

Member of Panel of Trustees, Eastern District of Wisconsin

Receiver in complex corporate liquidation and assignment for benefit of creditors

 

UNITED STATES BANKRUPTCY COURT, EASTERN DISTRICT OF WI -

Milwaukee, Wisconsin 1981-1984

Administrator n/k/a Office of U.S. Trustee

Managed pilot program activities of Federal Court regarding cases and Panel of Trustees; appeared in reorganization, contested matters and adversary proceedings; conducted hearings and supervised staff and trustees.

Member of Initial Local Rules Committee of the Court

Chairperson and Program Director, Milwaukee Bar Association, Bankruptcy Section

Director of Bankruptcy Section, Wisconsin Bar Association

 

SOUTHEASTERN WISCONSIN HEALTH SYSTEM AGENCY -

Milwaukee, Wisconsin 1978-1981

Counsel/Administrator

Worked on capital expenditure projects and programs for hospitals and nursing homes; staff to Board of Directors and various committees; liaison to Milwaukee County Board of Supervisors.

 

EDUCATION

University of San Diego School of Law, San Diego, California – Juris Doctorate

University of Wisconsin, Oshkosh, Wisconsin –

Bachelor of Science in Communications/Rhetoric & Public Address

 

PROFESSIONAL AFFILIATIONS AND MEMBERSHIPS

Wisconsin & Illinois Bar Associations - Member

Speaker on workouts, risk management, and special asset administration