$190MM, 40,000+ Acres of Timberland in Receivership
Operations Management, Litigation Support, Asset Sales
The Bottom Line:
After years of complicated, contentious trust-related litigation involving a family partnership and a large institutional trustee, the judge appointed Stapleton Group as Receiver of the business. Assets included a large timber operation with over 40,000 acres of land.
Actions:
As Receiver, we managed operations and cash flow of the 40,000+ acres of timberland for two years and retained a best-in-class agent to market the timberland for sale. The property sold for $172MM in an all-cash transaction, exceeding the owner’s expectations by 50%. To close the sale, we navigated complicated titling issues resulting from the extensive historical litigation. We currently are managing the pending all-cash sale of additional real property for over $20MM.