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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.
The Erie County judge who appointed an independent receiver to take control of the finances of the defunct Erie Rise Leadership Academy Charter School said one aspect of his unprecedented decision ...
In voluntary administrative receivership, the administrator is appointed by the company directors. In involuntary administrative receivership, the administrator is appointed by a judicial court. The legal terms for these processes vary from country to country, and the processes may overlap.
The United States Court of Appeals for the Federal Circuit (in case citations, Fed. Cir. or C.A.F.C.) is one of the 13 United States courts of appeals.It has appellate jurisdiction over certain categories of specialized cases in the U.S. federal court system.
In 1979, the Ninth Circuit became the first federal judicial circuit to set up a Bankruptcy Appellate Panel as authorized by the Bankruptcy Reform Act of 1978. The Richard H. Chambers U.S. Court of Appeals, Pasadena, California. The cultural and political jurisdiction of the Ninth Circuit is just as varied as the land within its geographical ...
The office of official receiver was established by the Bankruptcy Act 1883 (46 & 47 Vict. c. 52). Their role was originally confined to personal bankruptcy , but it was extended to companies in compulsory liquidation by the Companies (Winding Up) Act 1890 ( 53 & 54 Vict. c. 63).
Legal authority, also known as rational-legal authority, is based on a system of rules that is applied administratively and judicially in accordance with known principles. The persons who administer those rules are appointed or elected by legal procedures.