REPORTS OF RECEIVERS

(a) At the hearing provided for in LR 66-3, the temporary receiver must file with the court a summary report of the temporary receivership. (b) Within 60 days of being appointed, a permanent receiver must file a verified report and account of the receiver’s administration, which must be heard on 14 days’ notice to all parties and known creditors of the party subject to receivership. The report and account must contain the following: (1) A summary of the receiver’s operations; (2) An inventory of the assets and their appraised value; (3) A schedule of all the receiver’s receipts and disbursements; (4) (5) A list of all known creditors with their addresses and the amounts of their claims; and The receiver’s recommendations for a continuation or discontinuation of the receivership and the reasons for the recommendations. (c) At the hearing, the court must approve or disapprove the receiver’s report and account, determine whether the receivership may continue, and fix the time for further regular reports by the receiver, if applicable.