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Simple English definitions for legal terms

local receiver

Read a random definition: marquisate

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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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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