Forms Needed To Initiate a Receivership
When you request a Receiver, you need to prepare a number of documents. Before arriving at Court, you need to file a Motion for Appointment of Receiver and request a hearing. In Texas, as with most things, you will need to give the defendant three days notice of the hearing.
Motion for Appointment of Receiver – The Motion should list, as detailed as you would like, all powers that you request be given to the Receiver. The more thorough you are, the more you will limit the Receiver’s powers. However, if you are too vague and expansive, you will necessitate that the receiver consult the judge more often to make sure actions are within their purview.
Forms Needed for Initial Hearing
The following forms should be prepared and taken to the initial hearing. You should also have spoken to your preferred Receiver and have them, in addition to any necessary witnesses, on standby during your hearing.
Agreed Order Appointing Receiver – The Order should reflect the powers requested in the Motion for Appointment of Receiver.
Bond Order – You will need to prepare an Order Fixing the Amount of the Applicant’s Bond. The court sets the bond amount and it should be sufficient to cover any defendant’s attorney’s fees that may arise if they allege a receiver was appointed in error.
Applicant’s Bond – Once the judge has signed the Order Fixing the Amount of the Applicant’s Bond, the applicant will need to file a Bond in the amount specified by the court with the county clerk.
Receiver’s Bond – The Receiver will also need to file a Bond with the county clerk. The amount was fixed by the judge in the Agreed Order Appointing Receiver.
Oath of Receiver – Once the Receiver has been appointed and filed his or her Bond, they will need to sign an Oath of Receiver and file it with the Court Clerk.
Forms Needed Once the Receivership Is In Place
Receiverships often need to be amended and always need to be dissolved. The following forms will help you with some, but not all, eventualities.
Motion to Enlarge Order Appointing Receiver – When the Receiver discovers either evidence of fraudulent transfer or other attempts to hide assets, hinder, defraud or delay the Plaintiff, it may be necessary to ask the Judge to enlarge the Receivership Estate. Three days notice is required, though Judges will often hear these Motions on an expedited basis.
Order Enlarging Order Appointing Receiver – This Order should reflect your requests in your Motion to Enlarge Order Appointing Receiver.
Motion to Dissolve – Once the Court has made a final disposition of the assets, all assets have been sold and debts paid, or an Agreed Settlement has been entered, the Receivership must be dissolved.