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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."
An OR has the following responsibilities: 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).
A person appointed to manage affairs is a conservator. A person under conservatorship is a conservatee. Under a guardianship, the appointed person is a guardian and subject person is a ward. When referring to government control of private corporations, conservatorship implies a more temporary control than does nationalisation.
A receivership is a court order to restructure debt, placing control of the company under a receivership. The principals of the company will stay in place and retain their titles, but likely will ...
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 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.
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 special master should not be confused with the traditional common law concept of a master, a judge of the High Court entrusted to deal with summary and administrative matters falling short of a full trial. In the federal judiciary of the United States, a special master is an adjunct to a federal