QUESTION: If I discover possible criminal wrongdoing, am I, as receiver, required to report it to authorities?
ANSWER: The answer depends on whether you are a federal receiver or state court receiver....more
Question: Unauthorized Transfers of Receivership Property: Void, Voidable or Ok?
Answer: In a recent unpublished bankruptcy appellate panel decision (In Re Domum Locis, LLC, 2015 WL 4697747 (9th Cir. BAP 2015)), the BAP...more
7/26/2016
/ Appeals ,
Bankruptcy Court ,
Chapter 11 ,
Consumer Bankruptcy ,
Deed of Trust ,
Limited Liability Company (LLC) ,
Receivership ,
Rental Income ,
Secured Debt ,
Transfer of Title ,
Transfers ,
Uniform Voidable Transactions Act (UVTA) ,
Void ab initio ,
Voidable
Question: I have seen various instances where receivers have requested that funds from returned or uncashed checks from a distribution be redistributed to other claimants or used to pay administrative fees or costs. Is this...more
Question: Do you need a confirmation hearing when a receiver is appointed ex parte and are there any exceptions?
Answer: Yes and no. In early practice in California, the appointment of a receiver on an ex parte basis was...more
QUESTION: I heard California’s fraudulent transfer law is being changed. How will the changes affect my ability to pursue fraudulent transfers as a receiver?
ANSWER: Earlier this year the California legislature, based on...more
QUESTION: The last Ask the Receiver article discussed whether, in federal court, an order approving a receiver’s sale of assets is appealable. While the discussion was interesting, it was not too helpful to me because I am a...more
QUESTION: I purchased assets from a receiver. The court approved the sale over the objection of one of the defendants. The sale has now closed. I was just informed that the defendant is appealing the order approving the sale....more
QUESTION: I know receivers often bring actions to set aside fraudulent transfers and recover the property transferred, but can a receiver be appointed in a fraudulent transfer lawsuit to take possession of and safeguard...more
QUESTION: Can a magistrate appoint a receiver?
ANSWER: While an arbitrator cannot appoint a receiver, Marsh v. Williams, 23 Cal. App 4th 238 (1994), a magistrate can....more
Receivers handling Ponzi schemes and fraud cases are familiar with the concept of suing the “winners” in the scheme to recover transfers made to them in excess of their investment. Such suits are based on the theory that the...more
QUESTION: I purchased assets from a receiver. The court approved the sale over the objection of one of the defendants. The sale has now closed. I was just informed that the defendant is appealing the order approving the sale....more
QUESTION: I am a receiver for an operating entity. It has three offices. The rent for one of the offices is excessive and the business does not need all the space. I have approached the landlord about giving back some of the...more
QUESTION: I am a receiver appointed pursuant to stipulation in an action pending in superior court between a husband and a wife over the operation of a business they own. After operating the business for many months, I agreed...more
QUESTION: I am a receiver for a partnership. While most of the partnership assets are in California, I have discovered the partnership owns a storage facility in Nevada and mining equipment in Arizona. Can I take over and...more
In Stern V. Marshall, ____ U.S ___, 131 S. Ct. 2594 (2011), the Supreme Court held that bankruptcy courts cannot issue final judgments on state law counterclaims even though they are “core proceeding”. Stern V. Marshall is...more
QUESTION: I have concluded my work as a receiver in a case, and the parties have requested that I enter into a stipulation with them waiving my final account and report discharging me as a receiver so they can avoid the cost...more
QUESTION: I am a receiver for a shopping center. I want to enter into a five year lease for one of the stores. Is there a statute or rule that limits the term of leases a receiver can execute?...more
QUESTION: I am counsel to a receiver for a corporation and things aren’t going too well. The receiver is thinking of filing a bankruptcy petition for the corporation. If this happens, are my fees in jeopardy?...more
QUESTION: I was appointed receiver for a business. Shortly after my appointment the owners put the business into bankruptcy and I turned over possession to the debtor. I was not discharged as receiver. I just learned that the...more
QUESTION: I am an equity receiver and I am setting up a claims procedure. I know some creditors and investors have filed suit against third parties to recover their losses. Can I consider these possible third party recoveries...more
QUESTION: I am a receiver appointed by a court in California in a contentious case. One of creditors has threatened to sue me in Nevada were he is located. How can this creditor sue me? I am a receiver appointed by the Court!...more
QUESTION: I am a receiver. I filed a fraudulent transfer action against the mother of the defendant in the main case in which I was appointed. I only discovered six weeks ago that the defendant had transferred hundreds of...more
QUESTION: My cousin, who is a lawyer, asked me to act as a receiver in a case where he represents the plaintiff. Is there some prohibition on my doing so? Am I ineligible to act as receiver because of our family relationship?...more
QUESTION: I have noticed language in a number of receivership orders providing that the receivership entities’ officers and directors are removed and their powers are vested in the receiver and further enjoining the officers...more
I have been appointed receiver in a case where the defendant appealed my appointment. If the appeal is successful, and the receivership is terminated, how do I get paid?
ANSWER: As a general rule, fees and costs of a...more