Oregon Statutes 37.410 – Termination of receivership
(1) Upon distribution or disposition of all property of the estate or the completion of the receiver’s duties with respect to estate property, or for other good cause, the receiver shall move the court for an order discharging the receiver.
Terms Used In Oregon Statutes 37.410
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
(2) The receiver shall attach to the motion for discharge a final report and accounting setting forth:
(a) A list of estate property received during the receivership;
(b) A list of disbursements, including payments to professionals engaged by the receiver;
(c) A list of dispositions of estate property;
(d) A list of distributions made or proposed to be made from the estate for creditor claims;
(e) If not filed separately, a request for approval of the payment of fees and expenses of the receiver; and
(f) Any other information required by the court.
(3) If the court approves the final report and accounting, the court shall discharge the receiver. The court may issue an order exonerating the receiver’s bond or alternative security.
(4) The receiver’s discharge:
(a) Releases the receiver from any further duties and responsibilities under the Oregon Receivership Code; and
(b) Releases the receiver and any persons acting on behalf of the receiver from all further liability in connection with the administration of estate property or the receivership.
(5) Upon motion of any interested person, or upon the court’s own motion, the court may discharge the receiver and terminate the court’s administration of the property over which the receiver was appointed.
(6) Upon termination of the receivership under any circumstances, if the court determines that the appointment of the receiver was wrongfully procured or procured in bad faith, the court may assess against the person who procured the receiver’s appointment all of the receiver’s fees and other costs of the receivership, and any other sanctions the court deems appropriate. [2017 c.358 § 41]