Upon notice of litigation, take it seriously. Business litigation can result in not just the loss of capital and business assets but also the entire business entity itself. Regardless of the final verdict, parties could be deprived of control and ownership of the business and its assets during the trial itself.

 

For parties in Lexington, KY,  Louisville, KY, and throughout Kentucky; the state courts can appoint receivers. Specifically, any party suing another party or business can ask for the appointment of a receiver. To do so, they must show that they have (or probably have) a right to the business or its assets. They must also show that the business or its assets are in danger of being lost, materially injured or will disappear.  https://apps.legislature.ky.gov/law/statutes/statute.aspx?id=18427

 

If the court believes these filings, it can appoint a receiver or master commissioner during the trial. And, even if the judge finds that a receiver is not warranted, that decision can be appealed. This means that parties may face multiple levels of litigation on this issue alone - underscoring the need for an experienced and qualified Receiver / Master Commissioner during an indefinite period.