Receivership

Receivership in the United States

Definition of Receivership

Note: See provisional remedies (in U.S. law).

For a meaning of it, read Receivership in the Legal Dictionary here.

Legal Materials

There is not much on receivership specifically. The leading treatise was Ralph Ewing Clark’s Treatise on the Law and Practice of Receivers 3d (“Clark on Receivers”), which has been reprinted by W.S. Hein & Co., but has not been updated since the 1968-69 supplement.

For more recent information, volume 16 of Fletcher Cyclopedia Corporations discusses receivers. So do the legal encyclopedias American Jurisprudence (Am Jur) andCorpus Juris Secundum (CJS). The Trigild Guide to Receivership and Foreclosure, available on request from Stephanie.Cadirci@trigild.com, summarizes the receivership laws of the 50 states and the U.S. Federal government. The West Key Number system has a section on Receivers. Chapter 66 of Moore’s Federal Practice discusses the special Federal rules for Receivers.

For additional resources, look through materials on liquidation, bankruptcy, corporations, equity and mortgage foreclosures that mention receivers. If you subscribe, you might also want to check Indexmaster.

Effect of Corporate Receivership

This section covers the following:

  • Generally
  • Advantages conferred on complainant or on strangers
  • Powers and liabilities of company
  • Right to possession of company’s property— Generally
  • Right to possession of company’s property —Possession of company’s books and records
  • Right to possession of company’s property —Funds deposited with state official
  • Right to possession of company’s property —Trial of right to property claimed by receiver
  • Right to possession of company’s property – Proceedings to compel receivers to turn over property in their hands
  • Vesting of title in receiver—Generally
  • Vesting of title in receiver —Receiver as assignee of corporation
  • Rights of shareholders
  • Rights of shareholders —Shareholder suits
  • Rights and powers of corporate ocers
  • Rights and liabilities of creditors and lienholders— Generally
  • Rights and liabilities of creditors and lienholders —Foreclosure of mortgages
  • Tax liability
  • Rights of debtors and third persons generally
  • Rights of debtors and creditors of banks
  • Uncompleted contracts—Generally
  • Uncompleted contracts —Mutuality of remedy and liability of corporation
  • Uncompleted contracts —Liability of estate for damages where receiver rejects contract
  • Uncompleted contracts —Contracts for personal services and for supplies
  • Uncompleted contracts —Insurance contracts
  • Leases—Liability of receiver
  • Leases —Liability of company
  • Right of action by corporation
  • Right of action against corporation
  • Right of action against corporation —Liability of corporation for acts of receivers
  • Right of action against corporation —Service of process
  • Pending actions by or against the company
  • Running of the statute of limitations
  • Right of seto —Against receiver
  • Right of seto —By receiver
  • Right of seto —Deposits in bank
  • Right of seto —Purchase of claims to be used as seto
  • Bankruptcy proceedings and assignments for creditors
  • As act of bankruptcy
  • Condemnation of property in hands of receiver
  • Jurisdiction of public service commission
  • Resources

    See Also

    Further Reading (Articles)

    Receivership Reforms, Part Three: Creditors’ Rights and Priority of Claims, Mondaq Business Briefing; September 23, 2013; Warfield, David

    Receiverships Revived: A Creditors’ Solution?, American Bankruptcy Institute Journal; November 1, 2008; Gallagher, Adam

    Using receiverships to maximize the value of distressed assets., Florida Bar Journal; December 1, 2009; Dervishi, Brian S. Seward, Steven E.

    Why Missouri’s Receivership Law Is Due for Reform, Mondaq Business Briefing; September 23, 2013; Warfield, David

    Public Housing: Information on Receiverships at Public Housing Authorities., General Accounting Office Reports & Testimony; March 1, 2003

    The people’s welfare and the origins of corporate reorganization: The Wabash receivership reconsidered, Business History Review; October 1, 2000; Hansen, Bradley

    INSPECTOR GENERAL’S REVIEW SHINES LIGHT ON CALIFORNIA PRISON HEALTH CARE RECEIVERSHIP’S USE OF STATE FUNDS, US Fed News Service, Including US State News; February 27, 2008

    New Jersey Appellate Court Issues Written Opinion Supporting Right to Rent Receivership, Mondaq Business Briefing; April 2, 2014; Byrne, David

    Receivership Reforms, Part Two: Establishing and Empowering Receivers, Mondaq Business Briefing; September 23, 2013; Warfield, David

    Receivership an alternative to filing Chapter 9 for troubled cities, but it’s not without costs., The Bond Buyer; June 24, 1991; Hampton, Ted;

    ‘A big hammer’: Arizona lawmakers may make school receivership law permanent, Arizona Capitol Times; July 13, 2007; Jim Small

    Receivership Looms Larger as Obstacle to GSE& Bill, American Banker; March 26, 2004; Blackwell, Rob

    Got Federal Income Taxes? Receiverships That May Have To Pay.(United States. Internal Revenue Service), Mondaq Business Briefing; June 1, 2012

    Receivership Best Option in Hindsight, New Zealand Herald (Auckland, New Zealand); March 20, 2010

    Global receivership database for monitoring company insolvency considered., Health & Medicine Week; July 28, 2003

    Legal and Finance: Banks Deserve Credit for Decline in Receiverships, The Birmingham Post (England); March 30, 2001

    New Receivership Database Provides Transparency, Accountability, US Fed News Service, Including US State News; August 8, 2008

    Receivership: The Right Tool For Some Jobs., Mondaq Business Briefing; October 29, 2004

    Turning building receivership into business opportunities.(INSIDERS OUTLOOK), Real Estate Weekly; April 18, 2007; Gross, Sheldon A.

    Revisions to Minnesota Statutes Addressing Receiverships and Assignments for the Benefit of Creditors, Northwestern Financial Review; June 15, 2012; Gibbs, Sarah M.

    Receivership: Open and Free Legal Research of US Law

    Federal Primary Materials

    The U.S. federal government system consists of executive, legislative, and judicial branches, each of which creates information that can be the subject of legal research about Receivership. This part provides references, in relation to Receivership, to the legislative process, the federal judiciary, and the primary sources of federal law (cases, statutes, and regulations).

    Federal primary materials about Receivership by content types:

    Laws and Regulations

    US Constitution
    Federal Statutory Codes and Legislation

    Federal Case Law and Court Materials

    U.S. Courts of Appeals
    United States courts of appeals, inclouding bankruptcy courts and bankcruptcy appellate panels:

    Federal Administrative Materials and Resources

    Presidential Materials

    Materials that emanate from the President’s lawmaking function include executive orders for officers in departments and agencies and proclamations for announcing ceremonial or commemorative policies. Presidential materials available include:

    Executive Materials

    Federal Legislative History Materials

    Legislative history traces the legislative process of a particular bill (about Receivership and other subjects) for the main purpose of determining the legislators’ intent behind the enactment of a law to explain or clarify ambiguities in the language or the perceived meaning of that law (about Receivership or other topics), or locating the current status of a bill and monitoring its progress.

    State Administrative Materials and Resources

    State regulations are rules and procedures promulgated by state agencies (which may apply to Receivership and other topics); they are a binding source of law. In addition to promulgating regulations, state administrative boards and agencies often have judicial or quasi-judicial authority and may issue administrative decisions affecting Receivership. Finding these decisions can be challenging. In many cases, researchers about Receivership should check state agency web sites for their regulations, decisions, forms, and other information of interest.

    State rules and regulations are found in codes of regulations and administrative codes (official compilation of all rules and regulations, organized by subject matter). Search here:

    State opinions of the Attorney General (official written advisory opinions on issues of state law related to Receivership when formerly requested by a designated government officer):

    Tools and Forms

    Law in Other Regions

    *This resource guide is updated frequently. However, if you notice something is wrong or not working, or any resources that should be added, please notify us in any of the "Leave a Comment" area.

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