August 3, 2018
Authored by: William Easley
“I think now that I’m older, I do think I’m the greatest receiver to ever do it.” -Randy Moss, Receiver, probably not talking about Fed. R. Civ. P. 66.
Editors’ Note: Will Easley of our Kansas City restructuring & insolvency practice knows about NFL receivers. He also knows about the far more exciting receivers appointed under Federal Rule 66. If you want to talk about either, or both, give him a call!
Even if you know the best receivers in the game, they cannot preserve your collateral if a court will not appoint them. In federal court, a receiver is usually only appointed when the plaintiff shows fraud or other threat to the collateral. For creditors who have the Randy Moss (or the objectively better Jerry Rice) of receivers, and a provision allowing appointment in the loan documents, this may come as a shock. Currently, there is