Corporation filed bankruptcy, can I demand payment for the cost of turning over the assest?
Q: I was appointed as receiver for some major assets owned by a corporation. I just learned the corporation filed for bankruptcy. I know I have to eventually turnover the assets to the representative of the bankruptcy estate. Can I wait to see if the bankruptcy sticks or if a trustee is appointed? Can I […]
Can the receivership court stay lawsuits?
Q: I was appointed as a state court receiver over a corporation. There are a number of pending lawsuits against the corporation. Currently there are few liquid assets and I would rather not use them to defend the lawsuits. Can the receivership court stay the lawsuits and require the claims be dealt with in a […]
Ask The Receiver Summer 2023 • Issue 78
Q: In a receivership I just wrapped up, the court approved my 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 my outstanding approved fees. The defendant, however, has not paid me. Am I entitled […]