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Court-appointed receivers are "the most powerful and independent of the judicially appointed managers." [ 8 ] Unlike special masters and monitors, "the receiver completely displaces the defendants: the receiver makes large and small decisions, spends the organization's funds, and controls hiring and firing determinations."
A receivership is not a legal process, but the court might order a receivership as a way for a company to manage debt. In that case, the court will appoint the receiver.
A receivership is when an external administrator known as a "receiver" (usually a "receiver and manager" if it requires controlling the company) is appointed by a secured creditor to sell off a company's assets in order to repay the secured debt, or by the court to protect the company's assets or carry out other tasks. [1]
Belongings of the Erie Rise Leadership Charter School were in disarray when the court-appointed receiver for the school took photos of the files on June 11 and 12, according to a report he ...
A judge has appointed a receiver for the vacant Latitude Five25 apartments on the Near East Side. The receiver will create a plan to rehab the site.
Provisional liquidation is a process which exists as part of the corporate insolvency laws of a number of common law jurisdictions whereby after the lodging of a petition for the winding-up of a company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis. [1]
the appointment of a receiver to hold assets of the defendant (where the injunction is insufficient on its own and where there is a measurable risk that a defendant will act in breach of the injunction), or; the appointment of a provisional liquidator (where the applicant is likely to obtain a winding-up order on the hearing of the petition).
The receiver’s team is getting copies of the records as part of a simultaneous probe into the finances of the sprawling suburban community about 20 miles southwest of downtown Miami. “There ...