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LSDefine

Simple English definitions for legal terms

primary receiver

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A quick definition of primary receiver:

A primary receiver is a person appointed by a court or a corporation to protect or collect property that is being disputed. This can happen when a company goes bankrupt or when there are legal issues surrounding the ownership of property. The primary receiver is responsible for managing the assets and making sure they are distributed fairly. They may have broad powers to act outside of their state of appointment and handle all distributions. Think of them like a caretaker for property that needs to be sorted out.

A more thorough explanation:

A primary 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 receivership estate and handling all distributions.

For example, if a company goes bankrupt, a primary receiver may be appointed to collect and distribute its assets to creditors. Another example is when a disinterested person is appointed by a court to protect property that is being litigated.

Primary receivers have broad powers, such as the ability to act outside the state of appointment, sue in a foreign court, and assign assets. They are also responsible for managing the entire receivership estate.

Overall, a primary receiver is an important legal figure who helps protect and distribute property that is being litigated or belongs to a bankrupt entity.

primary purpose or effect | primary reserve ratio

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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
soyalmondoatmilk
8:38
good morning! hoping waves will come our wave today
8:42
GW wave today?
8:57
There’s someone I found on here with the username threeoutchange and if my understanding is correct that’s a reference to the debut album by a pretty cool 90s-00s Japanese band called Supercar. I geeked a little
8:57
It could just be a baseball reference I don’t get though lol
Dkk
9:00
@renard99: also, the same band that does a song in the anime Eureka 7 which I watched when I was like idk, 12
9:00
Yeah! They are pretty good. Three Out Change is an awesome J-rock record
Dkk
9:01
I will probably not listen to them more but fun fact. Really random to start the day. An omen that the waves will be very random today.
Dkk
9:03
Fuck, reading the wikipedia now. Literal last song they did before they broke up was Storywriter. Wow.
9:05
That one is a masterpiece
9:05
My favorite song by them is Recreation
glovediedthisishismom
9:05
snowing
Dkk
9:07
@renard99: man, hard to find.
Dkk
9:07
@glovediedthisishismom: Congrats on the snow.
Dkk
9:16
@renard99: Poetic and nice.
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