David M. Frank, Court Receiver

The Company specializes in receiverships and chapter 11 bankrupcy reorganizations of corporations, businesses and real property focusing on court orders, enforcement of judgments and interim corporate business management. The Company prepares monthly operating reports, prepares and files opening, interim and final reports, and serves all parties with the appropriate reports and pleadings. As an AD HOC Bankruptcy Trustee the firm restructures under either the Companies' Creditors Arrangement Act or the Bankruptcy and Insolvency Act Liquidator or as an Interim Receiver.

After a court-ordered seizure of property, the receiver quickly takes control, which is critical to conserving the overall value of the asset. We conduct a full audit of accounts payable and accounts receivable to determine the asset valuation and liabilities. The Company supervises and accounts for all receipts, disbursements and operations, and at the same time implements an aggressive marketing plan to improve business operations and, most importantly, protect the value of the asset. As a receiver for real property, Mr. Frank handles problem management issues, such as leasing and tenant workouts, as well as supervising repairs and maintenance to protect the value of the property.

Biography of David M. Frank

Mr. David Frank is Chief Executive Officer of The Merrill Group of Companies, LLC, a real estate development and property management company founded in 1985. Mr. Frank’s career began in the legal field in 1984 after earning a Juris Doctorate in Law at Pepperdine University Law School and a Bachelor’s degree from University of California, Los Angeles in 1982. Mr. Frank continues to hold commercial real estate broker’s licenses in both California and Nevada as well as a contractor’s license in California. As the principal as well as the founder of the Company, Mr. Frank has a 24 year history of working in retail, multi-family, and commercial real estate. The Company, together with its affiliate formed in 1997, has developed over 5 million square feet of commercial and multi-family and became one of the largest real estate companies in Los Angeles. Beginning in 1992 the Company positioned itself to handle commercial property foreclosures and receiverships for the California Superior Court and the Resolution Trust Corporation (RTC) with appointments in over 400 cases, for properties comprised of office buildings, shopping centers, hotels, multi-family complexes and other specialized properties. As a provisional director and a court appointed receiver, Mr. Frank’s expertise includes bank foreclosures, bankruptcy proceedings, auctions, and business partnership disputes.

Mr. Frank spearheads his Company with a rare combination of proven foresight and intuitive judgment, resulting in maximizing the quality and the success of every business venture. As a“hands-on strategist” as well as a troubleshooter and workout specialist, Mr. Frank has implemented many programs and procedures to assist lenders in protecting the security of their loans, namely increasing market value and generating a higher revenue. Problem management issues, such as debt and creditor workouts, is one of the proprietary tasks of Mr. Frank’s distressed property receivership services unit.