Workout and court appointed receivership firm Amicus Management expands in Grand Rapids, adds staff

GRAND RAPIDS, MI, December 16, 2010 (Press-News.org) Amicus Management Inc., one of the largest and oldest workout and court appointed receivership firms in metro Grand Rapids, has tripled its office space by occupying an entire 8,300-square-foot building at 555 Cascade West Parkway.

Amicus Management President Daniel J. Yeomans said the firm's move from its former 2,800-square-foot offices in the same office complex was necessary to accommodate growth and add new services for its clients in West Michigan. The firm recently hired James R. Laird as certified public accountant and project manager who will specialize in creating performance projections for ongoing concerns or properties including mobile home communities, condos, office and medical buildings, shopping malls, hotels and industrial properties. The addition of Laird brings Amicus Management's full-time staff to 14 people.

"The type of businesses that we help has changed quite a bit during the past 17 years," Yeomans said. "But regardless of whether we are dealing with a student housing project or tool-and-die maker, we have to find common ground among business owners, banks, attorneys and debt purchasers to salvage ongoing concerns."

When Michigan was shaken several years ago by the severe decline in manufacturing, Yeomans served as court-appointed receiver for the former Detroit Cold Rolling steel mill in Gibraltar and other industrial concerns. Now the bulk of the firm's work is related to court appointed receiverships and workout consulting for condominium developments, mobile home communities, multifamily properties, hotels and shopping centers due to the recent financial crisis and drop in property values.

Most recently Amicus Management was named court appointed receiver for two student housing projects in Kalamazoo near Western Michigan University that have a total of more than 340 bedrooms.

Yeomans may be best known throughout West Michigan as the court appointed receiver that secured the cash and physical assets of 16 shell entities making up the Cyberco Holdings scam perpetrated by Barton Watson in Grand Rapids that was raided by the FBI and ultimately liquidated. The scam was highlighted on the Fraud in Cyberspace episode of CNBC's American Greed national television show.

For more information on Amicus Management, please visit the company's website at http://www.amicusmanagement.com or call 616.954.2000. For more information on this news release or to obtain photos, please contact Matthew Gryczan at SciTech Communications L.L.C. at mgryczan@scitechcommunications.net or call 616.916.8158.

SciTech Communications is a marketing and public relations firm that serves companies with technical, financial and other complex selling propositions. For more information, please contact Matthew Gryczan at 616.916.8158.