Receiver in Europe

Definition of Receiver

(1) A person appointed by the Court on an interlocutory application, to receive the rents and profits of real estate, or to get in personal property affected by proceedings in lieu of the person then having the control of the property, to protect the property until the rights of the parties have been ascertained. In an action for the dissolution of a partnership a receiver is frequently appointed to realise the partnership assets. A receiver is an officer of the Court, and generally has to give security for the due performance of his duties. (See Order L, rr. 16-22.) (2) In bankruptcy the official receiver may be appointed interim receiver, at any time after the presentation of the petition, if that course be necessary for the preservation of the estate, and it is his duty to act as interim receiver after adjudication until a trustee is appointed (Bankruptcy Act, 1914, ss. 8, 74). (3) A mortgagee has the power, when the mortgage money has become due, to appoint a receiver. (Sections 101, 109, Law of Property Act, 1925.) (4) A receiver of stolen property is one who receives stolen property knowing it to be stolen. The offence of receiving is punishable on indictment with penal servitude up to fourteen years. (Larceny Act, 1916.)

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Definition of Receiver is, temporally, from A Concise Law Dictionary (1927). This page needs to be proofread.

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