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.
Queens New York Appointment of a Receiver
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State:
Multi-State
County:
Queens
Control #:
US-L07057
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FAQ
To obtain a court-appointed receiver, you must file a motion with the relevant court, providing details about the need for such an appointment. This typically requires legal representation to properly argue your case and present evidence justifying the appointment. It's crucial to demonstrate why appointing a receiver is necessary for asset protection or management. If you're navigating a Queens New York Appointment of a Receiver, seeking assistance from a legal professional can streamline the process.
A receiver may be appointed under a fixed charge, a floating charge or under a combined fixed and floating charge. In contrast to a court-appointed receiver, he is appointed out of court by a deed made by the chargee who is the secured lender under the charge.
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.
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 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.
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) 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.
The receiver is a neutral, legally-appointed professional who is entrusted to manage a company's operations, finances, and property in the event that they default on their loan payments. The main goals of receivership are to: Repay debts to creditors. Negotiate with creditors to secure lower interest rates.
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.
Receivers are paid by the company in receivership. Receivers take their fees from the money that is raised when they sell the company's charged assets or trade its business. Receivers negotiate their fees with the secured creditor before they're appointed. Unsecured creditors have no input into the receiver's fees.
