A court-appointed receiver sought approval of its reports, approval of fees and disbursements, authorization to sell a property to fund payment of those fees, and directions regarding the validity of a corporate board election.
The court approved the receiver’s activities and found the fees of both the receiver and its counsel to be fair and reasonable given the unusual and contentious nature of the receivership.
The court authorized the sale of the property under the receiver’s control to generate funds to pay the receiver’s outstanding fees.
The request for directions regarding the validity of the corporate board election was declined as beyond the scope of the receivership proceeding.
The court ordered that the parties benefiting from the receivership share the receiver’s fees on a 50/50 basis.