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In law, receivership is a situation in which an institution or enterprise is held by a receiver – a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights" – especially in cases where a company cannot meet its financial obligations and is said to be insolvent. [1]
J. Clark Kelso (born 1959) is an American professor who served briefly as Acting Insurance Commissioner of California in 2000, following the resignation of Chuck Quackenbush, and is currently Professor of Law at the McGeorge School of Law and federal receiver with responsibility for prison health care.
On May 11, 2009, due to Front Sight's legal counsel failing to appear to a hearing, Judge James Ware of the U.S. District Court for Northern California ordered a temporary receiver be appointed to Front Sight.
In court filings, Adams said that fees for his company, California Receivership Group, totaled $329,000 for April and May — not counting what is owed to the outside law firm, property management ...
A person appointed to manage affairs is a conservator. A person under conservatorship is a conservatee. Under a guardianship, the appointed person is a guardian and subject person is a ward. When referring to government control of private corporations, conservatorship implies a more temporary control than does nationalisation.
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]
[10] [11] As a result of the Gold Rush, many New York lawyers had migrated to California, including Field's brother, Stephen Johnson Field, who would ultimately serve as California's fifth Chief Justice before being appointed to the U.S. Supreme Court. The strong New York influence on early California law started with the California Practice ...
The Supreme Court of California is the highest judicial body in the state and sits at the apex of the judiciary of California. [1] Its membership consists of the Chief Justice of California and six associate justices who are nominated by the Governor of California and appointed after confirmation by the California Commission on Judicial Appointments. [2]