What is a receiver legally?

1) A neutral person (often a professional trustee) appointed by a court to manage a party's legal interests in a court proceeding.

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Affidavit by an Attorney-in-Fact in the Capacity of a Court Appointed...

Clark Nevada Affidavit by an Attorney-in-Fact in the Capacity of a Court Appointed Receiver

Name: Clark Nevada Affidavit by an Attorney-in-Fact in the Capacity of a Court Appointed Receiver
Brand: US Legal Forms
Rating: 4.8 (348 reviews)

Category:

Affidavits - Attorneys

State:

Multi-State

County:

Clark

Control #:

US-00486BG

Format:

Instant download

Description

The following form is by an affiant as a court appointed receiver.

How to fill out Clark Nevada Affidavit By An Attorney-in-Fact In The Capacity Of A Court Appointed Receiver?

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A receiver's powers generally include taking legal control of and protecting assets, filing claims on behalf of an entity placed into a receivership, and, ultimately, distributing assets to defrauded investors, claimants or creditors through a court-approved plan.

Receivers seek to realize and secure assets and manage affairs to pay debts. For businesses, receivers seek to maximize profits and asset value, and either terminate operations or sell all or part of the company. When a receiver is appointed, a company is said to be "in receivership."

(1) Upon appointment as receiver, the receiver shall take possession of the Corporation in order to wind up the business operations of the Corporation, collect the debts owed to the Corporation, liquidate its property and assets, pay its creditors, and distribute the remaining proceeds to stockholders.

The Receiver is appointed to take possession of and sell or liquidate the assets secured by the security agreement in order to repay the outstanding debt. In a Receivership, a secured creditor or the Court may also appoint a Receiver-Manager to operate and manage the business until it is sold as a going concern.

In an action in which any part of the relief sought is a judgment for a sum of money or the disposition of a sum of money or the disposition of any other thing capable of delivery, a party, upon notice to every other party, and by leave of court, may deposit with the court all or any part of such sum or thing.

After appointment by the court, a receiver has legal possession of the property but does not hold title. However, a receiver virtually steps into the owner's shoes, assuming all duties and responsibilities.

What is the Role of a Receiver? The purpose of the receiver is to preserve property or other assets of the parties subject to litigation in an effort to ensure an equitable outcome for all parties involved.

1) A neutral person (often a professional trustee) appointed by a court to manage a party's legal interests in a court proceeding.

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Injunctions, Receivers, Deposits in Court, Offer of. " 1 Clark on Receivers § 11(a), at 13 (3d ed. 1959).Section where they might appear in a revised Act. Cases enumerated herein when the complaint and an affidavit of the plaintiff or the plaintiff's attorney have been filed with the court. An attorney should be consulted for determination of the necessary document contents. Circuit, appellate and administrative courts. Mr. Vail was the lead attorney or one of the lead attorneys in all of those matters. The superior court judge reviews the clerk's order or judgment for the purpose of determining only whether: a). Conduct of an attorney in a courtroom must at all times conform to his oath. Out to illustrate how specific terms are used or applied in various legal contexts.

Clark Nevada Affidavit by an Attorney-in-Fact in the Capacity of a Court Appointed Receiver

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