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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]
The office of official receiver was established by the Bankruptcy Act 1883 (46 & 47 Vict. c. 52). Their role was originally confined to personal bankruptcy, but it was extended to companies in compulsory liquidation by the Companies (Winding Up) Act 1890 (53 & 54 Vict. c. 63). [1]
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]
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 ...
Wachter said Gleason, Krieger's financial advisory firm, has members who regularly serve as court-appointed receivers. Wachter said the district became acquainted with the Gleason firm through its ...
A judge has appointed a receiver for the vacant Latitude Five25 apartments on the Near East Side. The receiver will create a plan to rehab the site.
In the law of the United States, a special master is an official appointed by a judge to ensure judicial orders are followed, or in the alternative, to hear evidence on behalf of the judge and make recommendations to the judge as to the disposition of a matter.
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.