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Accounts Receivable and Accounts Payable | 12 Months Ended
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Dec. 31, 2020
Accounts Receivable And Accounts Payable [Abstract] |
Accounts Receivable and Accounts Payable | Note 10 – Accounts Receivable and Accounts Payable Accounts receivable As described in Note 2, the Company’s accounts receivable are primarily related to the operations of its asset liquidation business. With respect to auction proceeds and asset dispositions, including NLEX’s accounts receivable brokerage transactions, the assets are not released to the buyer until payment has been received. The Company, therefore, is not exposed to significant collectability risk relating to these receivables. Given this experience, together with the ongoing business relationships between the Company and its joint venture partners, the Company has not historically required a formal credit quality assessment in connection with these activities. The Company has not experienced any significant collectability issues with its accounts receivable. As the Company’s asset liquidation business expands, more comprehensive credit assessments may be required. The Company recorded no allowance for doubtful accounts as of December 31, 2020 and 2019. Accounts payable and accrued liabilities Accounts payable and accrued liabilities consisted of the following at December 31, 2020 and 2019 (in thousands):
|  | 2020 |  |  | 2019 |
Due to auction clients |  | $ | 8,026 |  |  | $ | 2,776 |
Remuneration and benefits |  |  | 2,498 |  |  |  | 2,484 |
Due to Joint Venture partners |  |  | 1,349 |  |  |  | 2,067 |
Sales and other taxes |  |  | 831 |  |  |  | 113 |
Accrued asset liquidation expenses |  |  | 346 |  |  |  | 212 |
Accounting, auditing and tax consulting |  |  | 166 |  |  |  | 187 |
Other |  |  | 393 |  |  |  | 274 |
Total accounts payable and accrued liabilities |  | $ | 13,609 |  |  | $ | 8,113 |

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