Illinois Receivership Law Modernized with Newpoints' Matthew Brash's Key Role

New Act Brings Clarity, Predictability, and Fairness to Distressed Business Proceedings

Published on Feb. 21, 2026

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Matthew Brash, Senior Managing Director at Newpoint Advisors Corporation, played a pivotal role in the development and passage of the Illinois Receivership Act (Public Act 104-0034), which modernizes and strengthens commercial receivership proceedings across the state. The landmark legislation, effective January 1, 2026, establishes a clear, consistent, and efficient framework for how courts, creditors, and businesses manage distressed assets outside of traditional bankruptcy.

Why it matters

Prior to the Illinois Receivership Act, the state's receivership law was fragmented, outdated, and largely dependent on inconsistent case law and judicial discretion. The new statute establishes uniform procedures, clearly defines the powers and duties of receivers, protects creditor rights, and provides courts with modern tools to stabilize distressed businesses, creating a more reliable alternative to bankruptcy that helps preserve jobs, protect asset value, and reduce litigation uncertainty.

The details

Brash's work on the Act stemmed from his long-standing experience advising distressed and underperforming businesses across North America. Recognizing the limitations and inconsistencies in Illinois receivership law, he joined a subcommittee of the Chicago Bar Association in 2023 to help draft a comprehensive, modern statute. In addition to contributing to the drafting process, Brash and Newpoint Advisors Corporation partnered with the Commercial Receivers Association to organize an educational panel in early 2025 that helped inform legal, banking, and restructuring professionals about the Act's purpose and impact.

  • The Illinois Receivership Act (Public Act 104-0034) was signed into law by Governor J.B. Pritzker on August 1, 2025.
  • The Act became effective on January 1, 2026.

The players

Matthew Brash

Senior Managing Director at Newpoint Advisors Corporation, who played a pivotal role in the development and passage of the Illinois Receivership Act.

Newpoint Advisors Corporation

A financial advisory firm dedicated to improving troubled and financially underperforming businesses, which partnered with the Commercial Receivers Association to organize an educational panel about the Act.

J.B. Pritzker

The Governor of Illinois who signed the Illinois Receivership Act into law.

Chicago Bar Association

The organization that Brash joined a subcommittee of to help draft the comprehensive, modern statute.

Commercial Receivers Association

The organization that Newpoint Advisors Corporation partnered with to organize an educational panel about the Act.

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What they’re saying

“Receivership is often the most practical way to stabilize a business and preserve value. Before this Act, Illinois law offered very little guidance. This legislation creates clarity, predictability, and fairness for everyone involved including courts, creditors, and business owners alike.”

— Matthew Brash, Senior Managing Director at Newpoint Advisors Corporation

What’s next

The new Illinois Receivership Act will go into effect on January 1, 2026, providing a more reliable alternative to bankruptcy for distressed businesses in the state.

The takeaway

The Illinois Receivership Act represents a significant modernization of the state's receivership laws, creating a clearer, more predictable, and fairer process for courts, creditors, and business owners to manage distressed assets outside of traditional bankruptcy proceedings. This legislation, shaped by the expertise of professionals like Matthew Brash, is poised to have a positive impact on Illinois' business community.