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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]
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 ...
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 ...
Pomerantz was the court-appointed receiver tasked with finding the assets of fraudster Marc Dreier; Pomerantz and his team successfully safeguarded over $100 million in assets so that Dreier's victims could be compensated. [19] Like U.S. District Judge Jed Rakoff, Pomerantz has criticized the Federal Sentencing Guidelines as being excessively ...
Belongings of the Erie Rise Leadership Charter School were in disarray when the court-appointed receiver for the school took photos of the files on June 11 and 12, according to a report he ...
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.
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]
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 ...