May 30, 2012 Articles

The Role of a Receiver in a Bankruptcy Case

While the filing of a bankruptcy case typically means that a receiver is required to turn over the assets to representatives of the estate, but it is not a foregone conclusion that the receiver must step aside.

By Thomas Rice

Litigants in both federal and state court have at their disposal a remedy to protect themselves from the dissipation of assets either during the course of litigation or following the entry of a judgment, which is the appointment of a receiver. When a bankruptcy case is filed that covers some or all of the assets that are subject to the receivership, a question can arise as to what role the receiver will play in connection with the bankruptcy case in an effort to undertake the receiver’s fiduciary obligation to protect the assets that are part of the receivership.

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