Location via proxy:   [ UP ]  
[Report a bug]   [Manage cookies]                
Scribd Logo
Upload

Welcome to Scribd!

  • 90 views

    Rule 59

    Uploaded by

    Marie Charlotte Olondriz
    The document discusses the requirements for appointing a receiver in court proceedings. It states that before appointing a receiver, the court must require the applicant to post a bond to cover damages to the adverse party in case there was insufficient cause for the appointment. It also allows for the adverse party to file a bond to pay damages to the applicant, in which case the application may be denied or the receiver discharged. The document outlines the grounds and requisites for an application for a receiver, including that the applicant must have an interest and show imminent danger of loss, and that the court must exercise caution in making appointments.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd

    Rule 59

    Uploaded by

    Marie Charlotte Olondriz
    90 views8 pages
    The document discusses the requirements for appointing a receiver in court proceedings. It states that before appointing a receiver, the court must require the applicant to post a bond to cover damages to the adverse party in case there was insufficient cause for the appointment. It also allows for the adverse party to file a bond to pay damages to the applicant, in which case the application may be denied or the receiver discharged. The document outlines the grounds and requisites for an application for a receiver, including that the applicant must have an interest and show imminent danger of loss, and that the court must exercise caution in making appointments.

    Original Description:

    Powerpoint

    Copyright

    © © All Rights Reserved

    Available Formats

    PPTX, PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document discusses the requirements for appointing a receiver in court proceedings. It states that before appointing a receiver, the court must require the applicant to post a bond to cover damages to the adverse party in case there was insufficient cause for the appointment. It also allows for the adverse party to file a bond to pay damages to the applicant, in which case the application may be denied or the receiver discharged. The document outlines the grounds and requisites for an application for a receiver, including that the applicant must have an interest and show imminent danger of loss, and that the court must exercise caution in making appointments.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    90 views8 pages

    Rule 59

    Uploaded by

    Marie Charlotte Olondriz
    The document discusses the requirements for appointing a receiver in court proceedings. It states that before appointing a receiver, the court must require the applicant to post a bond to cover damages to the adverse party in case there was insufficient cause for the appointment. It also allows for the adverse party to file a bond to pay damages to the applicant, in which case the application may be denied or the receiver discharged. The document outlines the grounds and requisites for an application for a receiver, including that the applicant must have an interest and show imminent danger of loss, and that the court must exercise caution in making appointments.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    of 8

    RULE 59

    SECTION 2:
    Bond on appointment of receiver.

    Before issuing the order appointing a receiver the


    court shall require the applicant to file a bond executed to the
    party against whom the application is presented, in an
    amount to be fixed by the court, to the effect that the
    applicant will pay such party all damages he may sustain by
    reason of the appointment of such receiver in case the
    applicant shall have procured such appointment without
    sufficient cause; and the court may, in its discretion, at any
    time after the appointment, require an additional bond as
    further security for such damages.
    PROCEDURE FOR APPOINTMENT OF RECEIVER:

    1. A verified application must be filed by the party applying for appointment of a receiver.
    2. The applicant must have an interest in the property or funds subject of the action.
    3. The applicant must show that the property or funds is in danger of being lost, wasted,
    dissipated.
    4. The application must be with notice and must set for hearing.

    5. Before issuing the appointment of a receiver, the


    court shall require the applicant to post a bond in
    favor of the adverse party.

    6. Oath
    7. Before entering upon his duties, the receiver must be sworn to perform his duties
    faithfully.
    REQUIREMENTS FOR THE ISSUANCE OF AN
    ORDER OF A RECEIVER:

    Court shall require:


    • File a bond
    • Require an additional bond
    SECTION 3:
    Denial of application or discharge of receiver.

    The application may be denied, or the receiver discharged,


    when the adverse party files a bond executed to the applicant, in
    an amount to be fixed by the court, to the effect that such party will
    pay the applicant all damages he may suffer by reason of the acts,
    omissions, or other matters specified in the application as ground
    for such appointment. The receiver may also be discharged if it is
    shown that his appointment was obtained without sufficient cause.
    GROUNDS FOR DENIAL OR DISCHARGE OF
    APPLICATION:
    1. The adverse party files a bond executed to the applicant
    • In an amount fixed by the court
    • To the effect that such party will pay the applicant all
    damages he may suffer by reason of the acts or
    omission.

    2. Other matters specified in the application as ground for such


    appointmernt; or

    3. The receiver may also be discharged if it is shown that his


    appointment was obtained without sufficient cause.
    REQUISITES FOR APPLICATION:
    • Applicant must have interest;

    • Necessity of imminent danger


    • Case of National investment and
    Development Corp. vs Judge Aquino, 30 June
    1988, 163 SCRA 153
    • Discretion in appointment of receiver to be
    exercised with extreme caution
    • CONSEQUENCES AND EFFECTS TO BE CONSIDERED BY
    COURT:
    1. Whether or not the injury resulting from such appointment
    would probably be greater than the injury ensuing if the
    status quo is left undisturbed;
    2. Whether or not the appointment will imperil the interest of
    others whose rights deserve as much a consideration from
    the court as those of the person requesting for receivership.
    (Ralla, et.al. vs. Hon. Alcasid)

    • Clerk of court not to be appointed as receiver

    You might also like