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The Court Order appointing the receiver authorized Larry Patrick to take control of the three named FM radio stations, and to "solicit offers for the sale of Defendants’ Radio Stations’ assets." However, that appointment order did not give Mr. Patrick control of the business entities.
The defendants argued that the agreements contained clauses that required disputes to be submitted to arbitration, [7] while the plaintiffs stated that, as a court-appointed officer, the Receiver was not bound by the debtor's contracts, and could seek the direction of the court in order to achieve the objectives of the Bankruptcy and Insolvency ...
No, a receivership is not the same as a bankruptcy. A bankruptcy is ordered by a court, while an order of receivership may come from a creditor or it can be filed by the company as a way to manage ...
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]
In early 2022, the complex was put under a court-ordered receivership after a litany of code violations. ... This popular vitamin C serum is on sale for just $10: '60 is the new 40' AOL.
A receivership is when an external administrator known as a "receiver" 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 courtroom sketch depicts Rudy Giuliani during a court hearing in his property turnover case in Manhattan, as a pair of election workers he defamed try to enforce the court-ordered transfer of ...
This was scrapped in early 2022 after a bankruptcy court ordered possession and control of the station returned to Stolz; the station was off the air for much of 2022 before returning with dance and, later, hip-hop music. Ultimately, Stolz was unable to formulate a reorganization plan, and a bankruptcy auction of his stations was set.