Court Appointed & Mediation
Litigation takes time. During the course of litigation, however, the world moves on: business functions operate, receivables accrue, and bills become due. When embroiled in litigation, the attention of the person or group in charge of the operation of the business frequently is diverted. Additionally, concern is raised that the business is not operated in such a manner to adequately safeguard assets and protect the financial interests of all parties concerned until the litigation can be resolved. In this case, the court can move to appoint an independent custodian for the assets until resolution is reached.
When one accepts the responsibility assigned by the Court, there's a lot more to it than simple property management and collecting rents. The receiver must be knowledgeable in the law and know when to wield the power that goes along with the assignment. Having a clear understanding of what's required of all parties - which is the function of the Order - is imperative.