Typically, a receiver stands in the position of a representative and a protector of the interest of the creditors, shareholders, and all others who claim an interest in the property of the receivership. In other words, the receiver represents all of the parties interested in the litigation in which the receiver is appointed, and holds the property in receivership for the benefit of all persons interested in it. As a representative for all interested parties, the receiver should act in good faith with respect to, and for the benefit of, all parties interested in the property in receivership. Thus, a receiver must act for the benefit of all of the creditors of the receivership, the owner of the property, and all others claiming an interest in the property, alike.
Random samples of cases with assets ranging in value from less than $500,000 to $5 million plus.