A Receiver For Your LLC? | Patton Sullivan Brodehl LLP
To embed, copy and paste the code into your website or blog: LLC disputes frequently lead to the court’s appointment of a receiver under California Code of Civil Procedure section 564. The receiver effectively steps into the shoes of the LLC’s manager, and calls the shots regarding the LLC’s operations and assets. Here is a quick overview of receiverships for LLCs: The receiver’s role The receiver’s role is to preserve the status quo between the parties while litigation is pending. Receivership is a provisional equitable remedy. Receivership is considered an “ancillary” re...
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