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Court-appointed receivers are "the most powerful and independent of the judicially appointed managers." [ 8 ] Unlike special masters and monitors, "the receiver completely displaces the defendants: the receiver makes large and small decisions, spends the organization's funds, and controls hiring and firing determinations."
In voluntary administrative receivership, the administrator is appointed by the company directors. In involuntary administrative receivership, the administrator is appointed by a judicial court. The legal terms for these processes vary from country to country, and the processes may overlap.
Should a receiver be appointed by the court, the individual would have oversight of the finances and bank accounts of Mott's various businesses, including Monroe's Restaurant in Pittsford and ...
A court-appointed receiver now controls the assets of Cox’s company, Drive Development, which include 12 nearly finished townhouses on Coconut Avenue. While the receiver, ...
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 Erie County judge who appointed an independent receiver to take control of the finances of the defunct Erie Rise Leadership Academy Charter School said one aspect of his unprecedented decision ...
the Receiver is a court-appointed officer, and by acting in that capacity "the receiver acts not as agent of the debtor (Petrowest), who has been legally paralyzed from acting, but rather acts in fulfilment of its own court-authorized and fiduciary duties, owed to all stakeholders. Petrowest, on the other hand, can do nothing." [15]
A judge has appointed a receiver to oversee the financial dissolution of the Erie Rise Leadership Academy Charter School, which had operated at West 10th and Cascade streets until it closed to ...