DePalma - Experienced court receiver for major banking institutions.

President and CEO, Joseph DePalma has extensive experience being appointed receiver, and has served as a court appointed receiver for many banking institutions at hotels across the United States. Mr. DePalma has expertise in the management of hotels in distressed circumstances. DePalma is able to provide efficient, cost effective Receivership Services for lenders who are preparing to foreclose and sell a property. DePalma will immediately take control of the asset, verify cash on hand, and inventory all departments. Accounting procedures will be implemented to give timely and accurate reports to the court. Our expertise makes for a smooth transition, and Depalma will then manage, or work with the chosen management company to return the hotel to profitability so the hotel can be sold at a fair market price. We make every effort, and In most cases we are successful, to get the lender out whole or close to it.