Local Rule LCivR 66: RECEIVERS

LCivR 66 RECEIVERS

(a) Inventories.

Unless the Court otherwise orders, a receiver or similar officer as soon as practicable after his appointment, and not later than 21 days after he has taken possession of the estate, shall file an inventory of all the property and assets in his possession or in the possession of others who hold possession as his agents, and in a separate schedule, an inventory of the property and assets of the estate not reduced to possession by him but claimed and held by others.

(b) Reports.

Within 6 months after the filing of the inventory, and at regular intervals of 6 months thereafter until discharged, or at such other times as the Court may direct, the receivers or other similar officer shall file reports of his receipts and expenditures and of his acts and transactions in an official capacity.

(c) Compensation of Receivers, Attorneys, and Others.

The compensation of receivers or similar officers, of their counsel, and of all those who may have been appointed by the Court to aid in the administration of the estate, the conduct of its assets, the formation of reorganization plans, and the like, shall be ascertained and awarded by the Court in its discretion. Such an allowance shall be made only on such notice to creditors and other persons in interest as the Court may direct. The notice shall state the amount claimed by each applicant.

(d) Administration of Estates.

In all other respects the receiver or similar officer shall administer the estate as nearly as possible in accordance with the practice in the administration of estates in bankruptcy, except as otherwise ordered by the Court.

(e) Receivership Action—How Dismissed.

No action in which a receiver has been appointed shall be dismissed by any party except by leave of Court and on such notice to other parties as the Court may prescribe.