Construction Blog
February 24, 2017
I’m a contractor. Why should I care about the Missouri Commercial Receivership Act?
What is a receivership? In its basic form a receivership occurs when a creditor requests the court to appoint a third party to take control of a debtor’s assets during the course of some litigation. This may include taking control of business operations, managing personnel, acting upon or rescinding business contracts, or liquidating the debtor’s assets to satisfy creditors. Receivership is an extreme solution. Courts do not grant that relief without proven cause.