Receivership

Definition and stakes

Oklahoma v. Texas (268 U.S. 472…

“ It is considered, ordered, and decreed that the receivership in this cause be, and it now is, declared at an end; and that the receiver be, and he now is, relieved and discharged from further duty, obligation, and responsibility in the premises.
In terminating the receivership the court expresses its high appreciation of the admirable service of the receiver in satisfactorily managing a large estate in novel and difficult circumstances.
”
Source: Wikisource

Johnson v. Manhattan Railway Company…

“ A receivership is not grantable as of course, but only for reasons strongly appealing to the judge to whom the application is made. When large properties are involved a receivership usually involves widely conflicting interests and presents questions fraught with difficulty and exceptional delicacy. ”
Source: Wikisource

L. Paul Bremer, Coalition Provisional Authority,  Order 40: Bank Law

“ Whenever a receiver is replaced, the person replacing the receiver shall succeed to the
powers of the receiver being replaced, and the books, records and remaining assets of the
bank in the custody of the receiver being replaced as well as the books and records of the
receivership shall be promptly transferred into the custody of that person.
Article 81 Powers of the receiver
1.
”
Source: Wikisource

Get perspective with Kwize: daily news enlightened by great literature