Also known as: receivers · court-appointed receiver
Written by attorneys · grounded in primary & secondary sources — see below
2 senses
A person who acquires or possesses property knowing it has been stolen. Receiving stolen property constitutes a felony of the third degree if the receiver is in the business of buying or selling such property or if the amount involved exceeds five hundred dollars.
A person who acquires or possesses property knowing it has been stolen. Receiving stolen property constitutes a felony of the third degree if the receiver is in the business of buying or selling such property or if the amount involved exceeds five hundred dollars.
Select any source to read its text and confirm it supports the definition.
A neutral person appointed by a court to take possession of and manage property that is the subject of litigation or insolvency. The receiver preserves assets, collects rents or profits, and may liquidate or operate the property under court direction until claims are resolved.
Select any source to read its text and confirm it supports the definition.
A neutral person appointed by a court to take possession of and manage property that is the subject of litigation or insolvency. The receiver preserves assets, collects rents or profits, and may liquidate or operate the property under court direction until claims are resolved.
Each sense below has its own examples, sources, and questions.
Renata Russo purchased large quantities of seed and fertilizer at below-wholesale prices from a cooperative whose bookkeeper diverted the goods. She resold the items at a profit through her established farm supply business to local farmers over multiple seasons. The volume and pattern of acquisitions established that she functioned as a regular participant in the market for stolen property.
The offense is graded as a felony of the third degree when the receiver is in the business of buying or selling stolen property. Aggregation of amounts from a single scheme or course of conduct is permitted to determine whether the five-hundred-dollar threshold is met.
Supporting sources
Ruby Rivera organized a donation drive for a municipal arts commissioner who would later select a receiver for a public investigation. Her firm submitted a proposal for the receivership while she solicited contributions from clients and patrons. The timing and messaging linked the contributions to obtaining the receivership appointment.
Ravi Reddy was appointed receiver for a corporation whose former officers had diverted funds. He filed suit on the corporation's behalf against the officers to recover the misappropriated assets. The proceeding was authorized because the receiver stood in the shoes of the corporation to enforce its rights.
Ryan Roberts, a city magistrate, agreed to serve as receiver for a corporation in exchange for a salary. The arrangement violated the statute prohibiting magistrates from holding any other office or position. The court refused to approve the appointment.
Raymond Ramos, receiver for a railroad, required new employees to sign agreements promising not to join a labor union. The statute prohibited such conditions of employment by any employer or its receiver. The agreements were held unenforceable.
Rachel Ramirez was appointed receiver after a bank became insolvent. She sued the directors for failing to monitor loans and permitting improper withdrawals. The court measured the directors' conduct against the standard of ordinary prudence required of bank directors.
A receiver may sue or be sued on behalf of the corporation, collect rents, preserve assets, and pursue claims against directors or officers. The receiver acts under court supervision and may liquidate property when authorized.
Supporting sources
No. Model Rule 7.6 prohibits a lawyer or firm from making or soliciting contributions for the purpose of obtaining or being considered for a government legal engagement or judicial appointment, including a receivership. The rule protects the appearance that appointments rest on merit rather than political support.
Supporting sources
A receiver generally liquidates assets and winds up the entity. A custodian preserves assets and may operate the business for an indefinite period without immediate liquidation.
Supporting sources
…or political party association. No city magistrate shall engage in any other business or profession or act as referee, or receiver, but each of said justices and magistrates shall devote his whole time and capacity, so far as the public interest demands, to the duties of his office. ” (§ 161, Laws 1933, ch. 746,…