1. B and L were unable to keep up with their loan repayments and the bank appointed administrative receivers. 2. In that case a debenture holder had appointed a receiver, and the directors were allowed to bring a case against him. 3. Later they became insolvent and a receiver was appointed. 4. To appoint a receiver is more convenient for the mortgagee than taking possession. 5. But two sources said Ruthardt would face a conflict of interest if appointed receiver, since she originally allowed the company to relocate out of state. 6. If the property is deemed unsanitary or unsafe, the judge can appoint a receiver with power to apply rent payments and borrow against the property to make repairs. 7. Since then, the federal district court in Phoenix has issued a preliminary injunction against the company, frozen its assets and appointed a receiver. 8. The Bank of Japan has provided emergency loans to allow Chubu to meet its obligations, and the Financial Services Agency will likely appoint a receiver. 9. The court appointed a receiver to take over the funds and determine their future. 10. The judge in the case froze the assets of both Armstrong and Princeton Economics International and appointed a receiver for the company. |