TeachMeFinance.com - explain receiver
receiver -- a party appointed by a court or regulatory agency to manage property subject to litigation, or the property and affairs of a bankrupt person or institution. The receiver maintains and manages the property in the interest of lenders or creditors until a final disposition of the property is made.
Receiver -- A person appointed by the court to take into his custody, control and management the property or funds of another (or of a corporation) pending judicial action concerning them. He is an officer of the court, represents it and is amenable to its orders as to the property and any interference with his authority is contempt of court.
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