Legal Definitions - primary receiver

A primary receiver is a person appointed by a court or corporation to protect or collect property that is being litigated or belongs to a bankrupt entity. They are responsible for managing the receivership estate and handling all distributions.

For example, if a company goes bankrupt, a primary receiver may be appointed to collect and distribute its assets to creditors. Another example is when a disinterested person is appointed by a court to protect property that is being litigated.

Primary receivers have broad powers, such as the ability to act outside the state of appointment, sue in a foreign court, and assign assets. They are also responsible for managing the entire receivership estate.

Overall, a primary receiver is an important legal figure who helps protect and distribute property that is being litigated or belongs to a bankrupt entity.