Home Results Case Studies Medina Valley Affiliated Entities
Longstanding Shareholder Dispute Resolved Through Appointment of State Court Receiver

Two families who each owned 50% of five (5) different entities related to the operation of a 359-acre gravel quarry operation and residential concrete construction company near San Antonio, Texas were involved in a very litigious partnership dispute.  The management deadlock and related litigation made it impossible for the companies to operate effectively.

The Solution
To break the management deadlock, the plaintiff shareholder group filed for the appointment of a State Court Receiver.
Harney's Greg Milligan was appointed as State Court Receiver.
An assessment was completed to determine that remaining operations were not viable.
Operating assets were liquidated to pay off the related secured debt, leaving the quarry real property and litigation claims as the primary assets of the receivership estate.
After months of litigation, mediation and negotiation, Milligan was able to obtain a consensual resolution of the litigation.
The Results
The settlement brokered by the Receiver allowed the defendants retain the quarry property in return for an $8.1 million payment to the Plaintiffs.
All assets of all five (5) receivership entities were administered, all creditors were paid in full and, the Plaintiffs received a significant multiple/profit on their total investment in the companies.
Services & Roles
Fiduciary Services
State Court Receiver
Interim Management
Viability Analysis
*Some engagements may have been performed by team prior to joining Harney Partners.