Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

local receiver

Read a random definition: consortium

A quick definition of local receiver:

A local receiver is a person appointed by a court or corporation to protect or collect property that is being litigated or belongs to a bankrupt entity. They are responsible for managing the assets of the estate being administered and may be appointed in a particular area to help a foreign receiver collect the assets of an insolvent corporation. A local receiver is appointed in the state where the property is located or where an act is done. They may also be referred to as a general receiver or principal receiver.

A more thorough explanation:

A local receiver is a person appointed by a court or corporation to protect or collect property that is the subject of diverse claims. They are appointed in the state where the property is located or where an act is done.

For example, a local receiver may be appointed to collect funds from a judgment debtor and divert them to the creditor. This is usually done when it is difficult to enforce a judgment in any other manner. Another example is an ancillary receiver who is appointed in a particular area to help a foreign receiver collect the assets of an insolvent corporation or other entity.

The purpose of a local receiver is to aid in the collection and taking charge of assets of the estate being administered. They have the authority to act outside the state of appointment, sue in a foreign court, exercise broad powers of assignment, and handle all distributions.

local option | local rule

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.