News & Analysis as of

Court-Appointed Receivers

Ervin Cohen & Jessup LLP

Can the IRS Obtain a Receiver to Help Collect Taxes Owed?

Q: I have a client who owes money to the IRS. While I know the IRS likely has a tax lien, my understanding was it just waits until a taxpayer’s property is sold and then gets paid out of escrow. Instead, here, the IRS has...more

Balch & Bingham LLP

Alabama Enacts Uniform Commercial Receivership Act

Balch & Bingham LLP on

On May 15, 2024, Alabama became the thirteenth state to adopt a version of the Uniform Law Commission’s Uniform Commercial Real Estate Receiver Act (the “Act”). The Act seeks to bring more direction and clarity to...more

Ervin Cohen & Jessup LLP

Is a receiver’s property manager protected by the Barton Doctrine and quasi-judicial immunity

Q: I was appointed receiver over a manufacturing facility. I operated it for a short time and then obtained court authority to sell it. I netted $1.4 million from the sale....more

Holland & Knight LLP

Making Lemonade from Lemons: A Mortgage Lender's Guide to Successful Loan Workouts, Part 2

Holland & Knight LLP on

If you are a mortgage lender who followed the recommendations in the first article in this series, then you should have a solid grasp of your mortgage portfolio. You have identified the relevant players and their respective...more

Cadwalader, Wickersham & Taft LLP

Ex Parte Appointment of a Receiver Confirmed

The New York County Supreme Court recently held that in the event of foreclosure, a receiver can be appointed, regardless of necessity, when the parties have contracted for such appointment. 24 West 57 APF LLC (“Defendant”)...more

Conyers

How to Fail at Service Out: Misleaders Beware Jurisdiction Challenge – BVI Court Sets Aside Ex Parte Service Out Order in US$230...

Conyers on

In a recent judgment, which was heavily critical of the claimant bank, the BVI Commercial Court has set aside an order obtained ex parte permitting service on non-BVI resident defendants of a fraud claim out of the...more

Conyers

Receivership Order for Cayman Islands Segregated Portfolio Fund Secured in 3 Months

Conyers on

Feb 2024 On 12 January 2024, the Honourable Mr Justice Kawaley granted an order for the appointment of receivers pursuant to Section 224 of the Companies Act (2023 Revision) (the “Act”), over the Premier Life Settlement Fund...more

Ervin Cohen & Jessup LLP

How To Handle the Cost of Producing Records From a Closed Receivership

Q: I was involved in a now closed receivership. I want access to some of the records of the entity that was in receivership and some emails and information I believe was sent to the receiver or her counsel....more

Buchalter

Bankruptcy Trustees and Receivers Beware: The California Second District Court of Appeal Tests The Barton Doctrine’s Limits on...

Buchalter on

In Breanne Martin v. Leslie Gladstone, the Second District Court of Appeal recently decided a case that could reverberate throughout the receivership and bankruptcy industries. This case comes at a propitious moment as...more

J.S. Held

Examining the Uniform Commercial Real Estate Receivership Act in Shaping Arizona’s Real Estate Receiverships

J.S. Held on

Historically, Arizona courts have granted receivers certain powers and duties related to commercial real estate and certain residential property in accordance with A.R.S. § 12-1241,1 and A.R.S. § 12-1242.2 For example,...more

Winstead PC

Court Affirms Receivership In Trust Case Based Solely On An Alleged Failure To Disclose And Did Not Require Traditional Equitable...

Winstead PC on

In Moody Nat’l Bank v. Moody, a beneficiary sued a trustee regarding several allegations of breach of fiduciary duty. No. 14-21-00096-CV, 2022 Tex. App. LEXIS 7844 (Tex. App.—Houston [14th Dist.] October 25, 2022, pet....more

Ervin Cohen & Jessup LLP

Can a Receivership Court Bar Third Party Claims?

Q: I am a receiver for a corporation, in a case arising out of fraud allegations. I have asserted claims against various insiders. They are willing to settle with me for a significant sum, but only if the court bars...more

Ervin Cohen & Jessup LLP

Is a Receiver Entitled to Interest on the Receiver’s Awarded, but Unpaid, Fees?

Q: In a receivership I just wrapped up, the court approved by final account and report and awarded me final fees. Because there were insufficient funds in estate to pay my fees in full, the court ordered the defendant to pay...more

Goodwin

Sixth Circuit Does Not Permit Third-Party Releases in Equity Receiverships

Goodwin on

The Sixth Circuit’s recent decision in Digital Media Solutions v. South Univ. of Ohio, 59 F.4th 772 (6th Cir. 2023) provides a cautionary tale about the limitations of federal equity receiverships as a restructuring tool. It...more

Ervin Cohen & Jessup LLP

Can a Receivership Court Stay Pending Lawsuits?

Q: I was appointed state court receiver over a corporation. There are a number of pending lawsuits against the corporation. At the current time, there are few liquid assets and I would rather not use them to defend the...more

Ervin Cohen & Jessup LLP

Can a Receiver Be Liable for Failure to Turnover Property When a Bankruptcy Is Filed?

Q: I was appointed receiver for some major assets owned by a corporation. I just learned the corporation has filed bankruptcy. I know I have to eventually turnover the assets I have. Can I wait to see if the bankruptcy sticks...more

Jones Day

Fifth Circuit: Barton Doctrine Precluded Litigation by Chapter 7 Debtor Against Bankruptcy Trustee and Counsel

Jones Day on

To shield bankruptcy trustees and certain other entities from litigation arising from actions taken in their official capacity, the "Barton doctrine"—now more than a century old—provides that such litigation may be commenced...more

Maron Marvel

Appointment of a Receiver? The New Sanction in South Carolina?

Maron Marvel on

Sanctions for perceived shortcomings in document productions and corporate representative depositions have long been a real threat in asbestos litigation in South Carolina. The plaintiffs’ bar has regularly filed Motions to...more

J.S. Held

The Distressed Cannabis Business: An Alternative to Bankruptcy

J.S. Held on

Bankruptcy is Not an Option - Bankruptcy can be a very helpful tool for a distressed business. Bankruptcy allows a business to stop collection actions, discharge certain debts, cancel unfavorable contracts, and provides...more

Ervin Cohen & Jessup LLP

Partition Referees and Receivers have quasi-judicial immunity

A number of articles previously published in Receivership News have pointed out that while it is clear that receivers appointed by federal courts have quasi-judicial immunity ( See, New Alaska Dev. Corp. v. Guetschow, 869...more

Rosenberg Martin Greenberg LLP

Abstention Trumps the Barton Doctrine in the Fourth Circuit

In Barton v. Barbour, the United States Supreme Court held that before another court could obtain subject matter jurisdiction over a suit against a receiver for acts committed in the receiver’s official capacity, the...more

Ervin Cohen & Jessup LLP

When Should A Receivership Be Terminated?

Q: I was appointed a receiver to collect a judgment. I have not yet filed my final account and report, the court has not approved my final fees. Other creditors of the judgment debtor are demanding that I pay them, because...more

Ervin Cohen & Jessup LLP

Must A Receiver File An Inventory?

Q: A few months ago I was appointed receiver over an operating business. A party is complaining that I have not filed an inventory of the assets of the business. My order of appointment says nothing about my having to file an...more

Ervin Cohen & Jessup LLP

What To Do If A Receiver Fails To File Monthly Reports?

Q: I represent a party in a receivership case. While the receiver has been in place for over 3 months, she has not served the parties or creditors with any reports. I have written the receiver requesting reports, but she has...more

Ervin Cohen & Jessup LLP

Does A Receiver Have To Comply With A Subpoena?

Ervin Cohen & Jessup LLP on

Q: I am a receiver in a partnership dispute case. I have been served with a subpoena issued from a case outside the receivership case, seeking partnership records and emails to and from a defendant in that case. Neither the...more

113 Results
 / 
View per page
Page: of 5

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
- hide
- hide