Court-Appointed Receivership · Assignments for the Benefit of Creditors
Restructuring & Insolvency · Collateral Agency · Article 9 Advisory
Stone Blossom Capital LLC serves courts, lenders, creditors, and operators as a fiduciary in complex insolvency, restructuring, and regulated-industry matters — with deep experience in cannabis, real estate, hospitality, financial services, and distressed operating companies.
Headquartered in California · Engagements Nationwide
Firm Experience
Stone Blossom Capital LLC is the management platform through which Richard P. Ormond serves as court-appointed receiver, assignee for the benefit of creditors (ABC), provisional director, special master, and chief restructuring officer. The firm has been engaged in hundreds of fiduciary matters in state and federal courts nationwide.
Equity, rents-and-profits, post-judgment, and federal equity receiverships over operating businesses, commercial and residential real estate, multi-entity enterprises, and regulated assets — including the preservation of collateral and court-supervised sales of real and personal property.
ABCs across multiple jurisdictions as an alternative to Chapter 7, including going-concern wind-downs, orderly liquidations, claims administration, and distributions to creditors.
Chief Restructuring Officer engagements, out-of-court workouts, Article 9 dispositions, secured lender enforcement, and forbearance and turnaround strategy for distressed operating companies.
Cannabis receiverships and license transfers coordinated with state and local cannabis regulators across the country, state tax and alcohol-licensing matters, banking-program management for cannabis-related businesses, and other industries that bankruptcy will not reach.
Office, industrial, retail, multifamily, hospitality, and mixed-use receiverships; rents-and-profits control; construction completion; and disposition of distressed real property under court supervision.
Advisory and fiduciary work for financial institutions on KYC/AML/BSA programs, lending in regulated industries, distressed loan portfolios, and Treasury and FinCEN compliance matters.
Biography
Principal & Manager, Stone Blossom Capital LLC
Richard P. Ormond is the Principal and Manager of Stone Blossom Capital LLC, a fiduciary services firm that handles complex insolvency, restructuring, and Assignment for the Benefit of Creditors (ABC) engagements. Through Stone Blossom Capital, Mr. Ormond serves as court-appointed Receiver, Assignee, Chief Restructuring Officer, provisional director, and special master in state, federal, and bankruptcy courts across the United States — spanning cannabis, real estate, hospitality, financial services, consumer brands, and complex operating companies.
Stone Blossom Capital’s engagements span real estate, consumer brands, financial services, and operating-company restructurings — recently including the Zulily LLC Chief Restructuring Officer engagement, the Club Monaco ABC, the Passaroyo commercial real-estate receivership, and the Clean Energy solar-company receivership. These appointments complement the firm’s collateral and administrative agency work and Article 9 secured-creditor advisory services for multiple clients.
In the cannabis sector, Stone Blossom Capital leads many of the industry’s most significant appointments — including Gold Flora Corporation (receiver over a 46-entity vertically-integrated California MSO receivership), MedMen Enterprises (receiver, national cannabis retailer), Grassdoor (ABC, one of California’s largest delivery platforms), and many more.
Mr. Ormond brings more than 26 years of experience in receivership and restructuring law, banking, finance, and complex insolvency, and ranks among the nation’s leading authorities on equitable remedies. He served as President of the California Receivers Forum and as Chair of the Remedies Division of the Los Angeles County Bar Association. As an Adjunct Professor of Law at Loyola Law School, Los Angeles, he teaches Receivership & Restructuring and Cannabis Business Law — the nation’s first cannabis business law course. Super Lawyers consistently recognizes him, the Los Angeles Business Journal named him one of Los Angeles’ Top 100 Lawyers, the Databird Research Journal selected him as one of the “Top Cannabis Law Experts in the United States,” and he appeared in the Netflix documentary series The Business of Drugs.
Notable Engagements
A selection of recent and current fiduciary appointments handled by Stone Blossom Capital across cannabis and non-cannabis sectors. Engagements span state, federal, and bankruptcy courts nationwide.
Court-Appointed Receiver
46-entity vertically-integrated California cannabis MSO receivership; landlord litigation, regulatory transitions, and CDTFA tax matters.
Court-Appointed Receiver
Post-bankruptcy receiver over more than 100 entities and over two dozen retail locations; sale of assets and transfer of licenses across more than six states.
Chief Advisor to Receiver
Cannabis receivership spanning operations in Illinois, Massachusetts, and Washington State; sale of significant assets and transfer of licenses across multiple jurisdictions.
Lead Restructuring Advisor
Advisory engagement for one of California’s largest cannabis cultivator and distributor operations.
Assignee for the Benefit of Creditors
ABC of one of California’s largest cannabis delivery platforms, including customer-data recovery and orderly wind-down.
Chief Restructuring Officer
Wind-down of online fashion retailer; sale of intellectual-property assets.
Assignee for the Benefit of Creditors
ABC of a large fashion retailer; sale of assets, claims administration, and creditor distributions.
Court-Appointed Receiver
Commercial real-estate receivership; preservation, management, and disposition under court supervision.
Court-Appointed Receiver
Solar-company receivership; successfully resolved for the parties.
Publications & Media
A selection of recent and notable articles, podcast appearances, and press featuring Mr. Ormond on receivership, restructuring, cannabis regulation, and banking. Author archives are linked at the bottom of this section.
Contact
For court-appointment inquiries, creditor matters, ABC and restructuring engagements, or media requests, send a brief note below. Submissions route to the firm’s administrative office.