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.
Oregon Appointment of a Receiver
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US-L07057
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FAQ
Appointment of Receivers is the discretionary power of the Court. A receiver appointment by the High Court, who has under its Order taken possession of property, cannot be prosecuted for criminal branch of trust in respect thereof without first obtaining the leave of the Court.
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.
A receiver is appointed to take possession of and sell or liquidate the assets secured by a security agreement in order to repay 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.
Court-appointed receivers, on the other hand, are neutral third-party officers of the appointing court. They work on behalf of both the company in debt and its creditors to reach a mutual agreement that benefits all parties involved, ideally with the aim to repay debts while continuing to maintain business operations.