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Receiverships can be broadly divided into two types: [citation needed] those related to insolvency or enforcement of a security interest; those where either: a person is incapable of managing their affairs and a court has appointed a receiver to manage the property on their behalf – for example, a receiver appointed by a court of protection under mental health legislation [3] [4] (in some ...
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]
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.
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]
acting as interim receiver or provisional liquidator: At any time after a petition for an insolvency order under section 122 of the Insolvency Act 1986 (c. 45) has been presented, the court may appoint the OR as interim receiver (for an individual) or as provisional liquidator (for a company). This is to protect a debtor's property, or take ...
The following pages contain lists of legal terms: List of Latin legal terms; List of legal abbreviations; List of legal abbreviations (canon law) on Wiktionary: Appendix: English legal terms; Appendix: Glossary of legal terms
The Supreme Court Building houses the Supreme Court of the United States, the highest court in the federal judiciary of the United States.. The judiciary (also known as the judicial system, judicature, judicial branch, judiciative branch, and court or judiciary system) is the system of courts that adjudicates legal disputes/disagreements and interprets, defends, and applies the law in legal cases.
Mary M. Schroeder, when appointed (Nov. 2000) Chief Judge of the Ninth Circuit, with her predecessor, Procter Ralph Hug Jr. Many commentators have argued that the Ninth Circuit faces several adverse consequences of its large size, [ 14 ] such as "unwieldly size, procedural inefficiencies, jurisprudential unpredictability, and unusual en banc ...