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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.
Sharp v Thomson 1997 SC(HL) 66 is a United Kingdom House of Lords decision regarding the status of an unrecorded disposition in Scots Property Law. [1] The case was brought by Sharp as receivers for Albyn Construction Ltd, a building company who had sold a house in Aberdeen to the Thomsons, a brother and sister. Albyn had agreed to sell the ...
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 ...
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 ...
Under clause 25 of the building contract the appointment of a receiver terminated the contract (albeit with an option to renew). On the 15 September 1977 at 9.20am, after they had heard that the Company had gone into receivership, the Association contacted the bank and instructed the bank to put a stop on the cheque.
In English law, a qualifying floating charge is a floating charge which enables the holder to appoint an administrator or administrative receiver under the Insolvency Act 1986 without the need for an order of the court.
Following the dissolution of the Soviet Union and reforming the existing socialist law, in 1999 there was established a law "About restoring the debtor's solvency or declaring him bankrupt". The official who administers "sanation" is known as an "arbitral director" (Ukrainian: aрбітрaжний керуючий) and is appointed by a court. [17]