Local Rule LCvR 66: RECEIVERS

LCvR 66 RECEIVERS A. Rule as Exercise of Vested Authority. In the exercise of the authority vested in the District Courts by Fed. R. Civ. P. 66, this rule is promulgated for the administration of estates by receivers, appointed by the Court, in civil actions.

B. Inventories. Unless the Court otherwise orders, a receiver, as soon as practicable after his or her appointment and not later than thirty (30) days after he or she has taken possession of the estate, shall file an inventory of all the property and assets in his or her possession or in the possession of others who hold possession as his or her agent, and in a separate schedule an inventory of the property and assets of the estate not reduced to possession by him or her but claimed and held by others.

C. Reports. Within three (3) months after the filing of the inventory, and at regular intervals of three (3) months thereafter until discharged, or at such other times as the Court may direct, the receiver shall file reports of his or her receipts and expenditures and of his or her acts and transactions in an official capacity.

D. Compensation of Receivers and Attorneys. No compensation for services of receivers and attorneys in connection with the administration of an estate shall be ascertained and awarded by the Court until after notice to such persons in interest as the Court may direct. The notice shall state the amount claimed by each applicant.