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Legal Memorandum: Requirements for a Receivership Action

Issue: What are the requirements for a receivership action under Minnesota law?

Area of Law: Uncategorized
Keywords: Appointment of receiver; Receivership grounds; Imminent danger of insolvency
Jurisdiction: Minnesota
Cited Cases: None
Cited Statutes: Minn. Stat. § 576.01
Date: 07/01/2009

Minn. Stat. § 576.01 provides:

A receiver may be appointed in the following cases:

(1) before judgment, on the application of any party to the action who shall show an apparent right to property which is the subject of such action and is in the possession of an adverse party, and the property, or its rents and profits, are in danger of loss or material impairment, except in cases wherein judgment upon failure to answer may be had without application to the district court;

 . . . .

 (3) in the cases provided by law, when a corporation is dissolved, or is insolvent or in imminent danger of insolvency, or has forfeited its corporate rights; and, in like cases, of the property within this state of foreign corporations;

(4) in such other cases as are now provided by law, or are in accordance with the existing practice, except as otherwise prescribed in this section.

 

Minn. Stat. § 576.01, subd. 1.  The party seeking a receivership generally must show some apparent right to the property, and that the property is in danger of loss or impairment.  Imminent danger of insolvency may also supply grounds for a receivership, but only “in the cases provided by law.”  Id.  

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