Montgomery Maryland Appointment of a Receiver

Name: Montgomery Maryland Appointment of a Receiver
Brand: US Legal Forms
Rating: 4.57 (314 reviews)

Category:

Attorneys - Partnerships

State:

Multi-State

County:

Montgomery

Control #:

US-L07057

Format:

Instant download

Description

This is an order for the appointment of a receiver. In an instance where the appointment of a receiver is necessary, this decision and order directs the receiver to reduce to cash any and all asssets where possible, and to file with the clerk a list of all assets and their disposition.

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The court can appoint a receiver before or after a decree and can remove any person from the possession or custody of the property and commit the same property in the custody or management of the receiver. Under the code itself, the receiver can be appointed to prevent the ends of justice being defeated.

(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.

1) What is a court-appointed receiver? A court appoints a receiver to protect property controlled by a person sued in a court case. The SEC typically recommends the appointment of a receiver in cases in which the SEC fears a company or an individual may dissipate or waste corporate property and assets.

A receiver can be appointed by the court by virtue of section 209(1)d of CAMA on the application of a trustee of the covering debenture trust deed. 42 A receiver/ manager appointed by the court, becomes an o2044cer of the court and shall act in accordance with the directions and instructions of the court.

A court appoints a receiver to protect property controlled by a person sued in a court case. The SEC typically recommends the appointment of a receiver in cases in which the SEC fears a company or an individual may dissipate or waste corporate property and assets.

The court may appoint the official receiver to be receiver on behalf of a debenture holder or other creditor where the company is already in compulsory liquidation. A court appointed receiver is personally liable for his/her acts and omissions and, as a result, may be required by the court to provide adequate security.

A Receiver is an officer appointed by the Court who is given custody of specified assets with direction to liquidate them and distribute the proceeds. A Court order is typically required to appoint a Receiver, and the terms of the order describe the Receiver's duties and powers.

A receiver may be appointed by the court, by a charge-holder with a suitable clause in their security or under the provisions of a statute, for example the Law of property Act 1925. The most common types of receiver are administrative receiver (see paragraph 56.2.

A receiver is a person appointed as custodian of a person or entity's property, finances, general assets, or business operations. Receivers can be appointed by courts, government regulators, or private entities. Receivers seek to realize and secure assets and manage affairs to pay debts.

Under Order 40, Rule 5, C.P.C the court may with consent of the Collector, appoint the Collector to be receiver of the property if Page 6 6 the property is land paying revenue to the Government or land of which the revenue has been assigned or redeemed and if it is considered by the court that the interests of those

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(b) Under Subsection (a)(1), (2), or (3), the receiver may be appointed on the application of the plaintiff in the action or another party. Get free access to the complete judgment in MONTGOMERY CRAWFORD, INC.Rules for foreclosures set out in C.R.S. sections 3838101, et seq. 395722V (Montgomery Cty. Cir. Because the appointment of a receiver rests largely in the discretion of the trial court, the court's action in appointing or refusing to appoint a receiver. There is currently no information available about this vehicle's features online. Core Terms receiver, appointed, appointment of a receiver, sheriff. United States. Congress. House. Committee on the Judiciary.

Montgomery Maryland Appointment of a Receiver

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