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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 ...
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 best sales to shop ...
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]
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]
Lawyers for the lenders are asking the court to order the repayment of more than $700 million in loans and for the appointment of a receiver to take possession of the property, pending the ...
A Houston judge has ordered former NFL MVP Adrian Peterson to turn over assets to address $12 million in debt, according to multiple reports. Per a court order obtained by USA Today and Field ...
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.
Any options, buy-back arrangements or similar conditions attached to the contract of sale; If the sale is part of a wider transaction, a description of the other aspects of the transaction. The main benefit of a pre-pack administration is the 'continuity' of the business - the company is protected by the court. This gets rid of debts and contracts.
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