The major Arizona law firm of Jennings Strouss & Salmon was placed into a receivership on August 22 and announced that its (few remaining) doors will close Thursday, August 31.
Judge Christopher Coury signed the receivership order August 22, after it was agreed to by the firm, PNC Bank and the landlord (Red Cityscape). The receiver will be Jeremiah Foster at Resolute Commercial Services.
In this sort of situation (where the company is closing its doors), a receivership is much like a bankruptcy with a trustee in place. The Receiver will be responsible for collecting the monies owed by JSS’s
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