A referral program for court-appointed receivers and receivership counsel

Court-appointed receivers can introduce a receivership estate with years of business records to SourceX, which runs qualification, data inventory, buyer review and contracting. The receiver acts only within the appointment order, may need court approval for the license, and should disclose, decline or seek approval for any referral reward as the court and applicable rules require.

Why receivers are well placed to spot records worth licensing

Receivers are often the first people to look at a distressed company's systems as assets rather than overhead. The appointment order hands you possession of the business, its accounts and usually its passwords, and your first weeks go on securing property, cutting costs and building the inventory you report to the court. That is exactly when years of email, CRM history, support tickets and project files are either preserved or quietly cancelled along with the subscription.

Receivership is one of several non-bankruptcy routes for dealing with an insolvent business, alongside assignments for the benefit of creditors and compositions, as this open commercial-law textbook summarizes. Because each receivership runs under its own court order, the receiver usually has a clear, documented answer to the first question any licensee asks: who can sign?

The demand side has shifted too. Epoch AI's forecast of the supply of public text projects that, if current trends continue, language models will fully use the stock of human-generated public text sometime between 2026 and 2032. It is a forecast with wide uncertainty, but it helps explain why permissioned, non-public records of real business work now attract AI labs and data buyers.

Which receivership estates fit

Estate type	Fit for a records license	Why
Operating-company receivership sought by a lender or creditor	Often strong	Years of office, sales, support and finance records across many systems
Receivership arising from a business dispute, such as an ownership deadlock	Possible	The company may be healthy and record-rich; the order must clearly cover licensing
Post-judgment or enforcement receivership over a business	Possible	Depends on whether the order reaches intangible property and systems
Rent or real-estate receivership	Rarely	Leases and tenant files seldom have the breadth buyers look for
Professional practice receivership, such as a law or medical practice	Rarely	Records are mainly client-confidential or protected health information

The company behind the estate has to meet the same bar as any SourceX introduction: a US business that reached 50+ full-time employees at peak (contractors excluded), with several years of documented operations, rights to license what it holds and someone with authority to sign, which here means the receiver acting under the order. A business that has stopped operating can still qualify if its data survives.

The ORDER test for receivers

Five questions you can answer from the file you already hold:

Order: does the appointment order let you license or sell intangible property, or will you need a further order?
Records: does the estate hold several years of the company's own records across email, chat, CRM, finance, support or engineering systems?
Data rights: did the company create those records itself, without client contracts or privacy promises that forbid licensing?
Exports: are the subscriptions current, and does someone on your team or the company's remaining IT staff hold admin access?
Recovery: would a one-time payment matter to the estate, and is there time before discharge to run the process?

For the records questions, the company fit checker offers a quick preliminary screen that is not an approval, and who qualifies sets out the full baseline. The step-by-step version of this review is in receivers: operational records as a recoverable asset.

What to clear with the court before you say yes

Start with the appointment order. It defines your powers, which may or may not reach intangible assets; it may require court approval for transactions outside the ordinary course or above a set amount; and it governs how you are paid. Receivership statutes and local practice vary by state, and federal equity receiverships follow their own orders, so read the order and the governing law before relying on any general rule.

Situation	What to check	Typical outcome to confirm with counsel
Order grants broad power over all property	Whether a license counts as routine administration or a sale-type transaction	A motion or notice to the court before signing
Order is silent on intangibles	Whether the estate includes records and systems at all	A motion to clarify or expand the receiver's powers
Business will be sold as a going concern	How an exclusive AI-training license affects the buyer	Disclose the license in sale materials, or sequence it with the sale
Customer personal information in the records	The company's privacy policy and customer contracts	Exclude or de-identify, or seek approval with the privacy terms set out
A referral reward would go to you or your firm	Whether the court treats it as compensation needing approval	Disclose and seek approval, decline, or follow the court's direction

The guide to referral fee disclosure rules for restructuring professionals goes deeper on the compensation question. This is general information, not legal, tax or financial advice. Confirm with your own counsel and the court's orders before acting.

When to raise it during the receivership

Moment	Why it matters	What to do
Appointment and turnover	Admin credentials and vendor accounts change hands	Secure access and suspend automatic deletion
First inventory report	The court and parties see what the estate holds	List the records by system and years covered, with value unknown
Cost-cutting review	Software subscriptions look like easy savings	Keep full exports before cancelling anything
Marketing the business or assets	Buyers of the business may care about a license	Decide the order of the license and the sale
Motion to approve dispositions	The court is already reviewing transactions	Consider bringing a license forward on the same timetable
Final report and discharge	Once the estate closes, nobody can sign	Raise it well before the final accounting

How the introduction works

You or receivership counsel register as a partner, then share the referral link with the estate or submit it through the referral form.
SourceX qualifies the estate: size, history, data breadth, rights and your authority to act. Expect to share the appointment order and any approval order.
Your team, or retained company staff, completes the data inventory listing systems, years of history and what can be exported. No records change hands at this stage.
Price and terms are agreed with the estate, subject to any court approval you need, before buyers see anything.
Buyers review; the license is signed once approved; records are prepared under de-identification and redaction rules agreed in advance and delivered only with your authorization.
The estate receives a single all-in payment, and any partner reward follows only after the buyer pays and SourceX receives its fee.

What to say

In a status report to the court:

To the lender or creditor group that sought the appointment:

How rewards work for receivers

Partners earn 25% of the eligible platform fees SourceX actually collects from the referred company's licensing deals, capped at $100,000 per referred company, payable only after the buyer pays and SourceX receives its fee. No reward is guaranteed. It is paid out of SourceX's share, never out of the estate's proceeds.

For a receiver, the reward raises a fiduciary question before a commercial one. Your duties run to the court and the estate, so treat any reward as something to disclose and clear in advance, or decline. Receivership counsel who make the introduction should also check their own professional conduct rules. If the reward cannot be accepted, the estate can still apply directly. For background on how programs like this are structured, see what is a referral program.

When not to bother

The estate is a rent or property receivership with little beyond leases and tenant files.
The records are mainly clients' confidential material or patient health information.
The company never reached 50+ full-time employees at peak (contractors excluded), or kept records for only a year or two.
Archives were deleted before your appointment and no backups survive.
Another party already holds an AI-training license to the same records.
The order bars the transaction and there is no appetite to seek approval.

Next step

Run your open estates through the ORDER test. For one that passes, register as a partner and introduce it, or send the estate your referral link to apply at sourcex.si/apply. If the entity has been dissolved and authority is unclear, start with who can sign for a dissolved corporation.

Step 1Share your linkSend your personal link to a company you know.
Step 2Company appliesThe company applies itself at /apply.
Step 3Buyer selects and paysThe buyer selects and pays for the data and SourceX receives its fee.
Step 4You get your rewardYour share of SourceX fees becomes payable.

Common questions

Can receivership counsel be the referring partner instead of the receiver?

Yes, either can register, but only the first valid referrer receives credit for a given company, and counsel's professional conduct rules apply to any reward counsel would receive. Many receivers prefer to keep the licensing decision with the receiver while counsel handles the court filings, with any referral arrangement disclosed to the court by whoever holds it.

Does SourceX need the receiver to run the exports personally?

No. The receiver authorizes the work and decides who does it, usually retained company IT staff or a vendor the receiver engages. SourceX works from the data inventory first, and records are delivered only after a signed agreement under redaction rules agreed in advance. Referral partners never export, upload or describe confidential records.

What if the receivership is close to discharge?

Raise it immediately and talk to counsel about timing. Once the receiver is discharged, nobody may have authority to sign, and systems are often cancelled at the end of the case. If there is not enough time, the receiver can still preserve full exports and ask the court how they should be held so a later license stays possible.

Can one receiver introduce several estates?

Yes. Each estate is a separate company and is qualified, priced and approved on its own, and credit for each goes to the first valid referrer whose introduction leads to a verified application within the attribution window. A receiver with a steady caseload can screen each new appointment with the same ORDER test at turnover.

Will a records license delay the sale of the business?

Not necessarily, but it needs sequencing. Buyers of the business will want to know about an exclusive AI-training license for an agreed term, so disclose it in the sale materials or complete it after the sale with the buyer's agreement. Where both transactions need approval, counsel may be able to present them to the court on the same timetable.

Free resources

Operational data inventory builder — List systems, record types, years held and owners.
AI readiness assessment — Ten questions, five dimensions, a score out of 100.
EBITDA calculator — Reported and adjusted EBITDA from net income.
All free tools · MCP resource center

By SourceX Partnerships Team · Published 2026-10-09 · Updated 2026-10-09

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