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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]
Silven Properties Ltd v Royal Bank of Scotland [2003] EWCA Civ 1409 is an English land law case, concerning the behaviour of receivers appointed under mortgages.It affirmed the proposition that a lender (and its agents or receivers) are not required to incur expenses that would likely delay a sale beyond the normal period of marketing.
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]
The former Coral Gables-based companies are now under the control of a federal court-appointed receiver, who is liquidating their assets as part of the Securities and Exchange Commission’s ...
A Miami-Dade circuit judge has put his properties — 12 nearly finished townhouses and 12 lots — under a court-appointed receiver who is investigating Cox’s financial dealings.
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 ...
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 receivers thought the business was unprofitable and should be closed down, and removed the manager of Glen Eden. The ousted manager consulted Russell on the matter. As a result, Downsview Nominees Ltd (controlled by Russell) was assigned Westpac's first debenture, and Russell became the receiver and manager under it.