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Simple English definitions for legal terms

local receiver

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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.

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triplethread
21:57
Um tasteless I put students
can u tell me what the pros and cons are
cuz rn im seeing cons, what if the students are biased
triplethread
21:58
Biases about what
idk so is puttinf down students better u think?
bout to submit so plsss lmk
triplethread
21:59
Pros: less experience to reviewing apps, can relate more to some of my anecdotes
triplethread
21:59
That’s what went through my head
triplethread
22:00
Wasp and I got in too so maybe it worked
time to open the whiskey
CynicalOops
22:04
what kind of whiskey u drinking
CynicalOops
22:04
i got hella whiskey
finishing this bottle of makers
what do I buy next
CynicalOops
22:08
oh i have some makers in my car
CynicalOops
22:08
for when the road gets tough
CynicalOops
22:08
get some macallan
12,15?
CynicalOops
22:17
let me see
CynicalOops
22:17
i usually have 12
is it good
CynicalOops
22:18
yeah i like it
CynicalOops
22:18
i have some oban 14 too
CynicalOops
22:18
i dont know shit about whiskey but i have been drinking a lot of it lately
it hits man
at bars I do tequila but at home? whiskey
LSD is gonna think I'm an alcoholic
CynicalOops
22:21
nah
CynicalOops
22:21
im a fan of tequila too
CynicalOops
22:22
usually just beer at a bar for my wallet tho
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