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Receiver(ship)
A disinterested person appointed by a court for the protection or collection of property that is subject to diverse claims
– Definitions of “Receiver” and “Receivership” in Black’s Law Dictionary
Richard A. Schurr, Esq. has represented receivers and has served as a court appointed receiver in contractual, family and business matters. Receivers are often charged with the recovery of assets, investigating fraud, maintaining, negotiating and executing contracts and reporting to the court. Court appointed receivers require an impeccable character and flawless reputation because they are responsible for protecting or collecting disputed property. When a court appoints a receiver to protect or collect disputed property, the receiver is often charged with the following duties:
- Recovering assets;
- Investigating fraud;
- Maintaining status quo;
- Investigating disputed facts;
- Liquidating assets and/or businesses;
- Negotiating and executing contracts; and
- Reporting and accounting to the court and to the parties.