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Receivership
In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in cases where a company cannot meet its financial obligations and is said to be insolvent.Philip, Ken, and Kerin Kaminski''Secured Lender'', January/February 2007, Vol. 63 Issue 1, pages 30-34,36. The receivership remedy is an equitable remedy that emerged in the English chancery courts, where receivers were appointed to protect real property. Receiverships are also a remedy of last resort in litigation involving the conduct of executive agencies that fail to comply with constitutional or statutory obligations to populations that rely on those agencies for their basic human rights. Receiverships can be broadly divided into two types: *Those related to insolvency or enforcement of a security interest. *Those where either **One is Incapable ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Insolvency
In accounting, insolvency is the state of being unable to pay the debts, by a person or company ( debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet insolvency. Cash-flow insolvency is when a person or company has enough assets to pay what is owed, but does not have the appropriate form of payment. For example, a person may own a large house and a valuable car, but not have enough liquid assets to pay a debt when it falls due. Cash-flow insolvency can usually be resolved by negotiation. For example, the bill collector may wait until the car is sold and the debtor agrees to pay a penalty. Balance-sheet insolvency is when a person or company does not have enough assets to pay all of their debts. The person or company might enter bankruptcy, but not necessarily. Once a loss is accepted by all parties, negotiation is often able to resolve the situation without bankruptcy. A comp ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Housing Finance Agency
The Federal Housing Finance Agency (FHFA) is an independent federal agency in the United States created as the successor regulatory agency of the Federal Housing Finance Board (FHFB), the Office of Federal Housing Enterprise Oversight (OFHEO), and the U.S. Department of Housing and Urban Development government-sponsored enterprise mission team, absorbing the powers and regulatory authority of both entities, with expanded legal and regulatory authority, including the ability to place government sponsored enterprises (GSEs) into receivership or conservatorship. In its role as regulator, it regulates Fannie Mae, Freddie Mac, and the 11 Federal Home Loan Banks (FHLBanks, or FHLBank System). It is wholly separate from the Federal Housing Administration, which largely provides mortgage insurance. In September 2019, the Fifth Circuit Court of Appeals, in an ''en banc'' opinion, ruled that the structure of the FHFA violated constitutional separation of powers because its director c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Conservatorship
Under U.S. law, conservatorship is the appointment of a guardian or a protector by a judge to manage the financial affairs and/or daily life of another person due to old age or physical or mental limitations. A person under conservatorship is a "conservatee", a term that can refer to an adult. A person under guardianship is a "ward", a term that can also refer to a minor child. Conservatorship may also apply to corporations and organizations. The conservator may be only of the "estate" (financial affairs), but may be also of the "person", wherein the conservator takes charge of overseeing the daily activities, such as health care or living arrangements of the conservatee. A conservator of the person is more typically called a legal guardian. Appointment Conservatorship is established either by court order (with regard to individuals) or via a statutory or regulatory authority (with regard to organizations such as business entities). In other legal terms, a conservatorship may ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Office Of Thrift Supervision
The Office of Thrift Supervision (OTS) was a United States federal agency under the Department of the Treasury that chartered, supervised, and regulated all federally chartered and state-chartered savings banks and savings and loans associations. It was created in 1989 as a renamed version of the Federal Home Loan Bank Board, another federal agency (that was faulted for its role in the savings and loan crisis). Like other U.S. federal bank regulators, it was paid by the banks it regulated. The OTS was initially seen as an aggressive regulator, but was later lax. Declining revenues and staff led the OTS to market itself to companies as a lax regulator in order to get revenue. The OTS also expanded its oversight to companies that were not banks. Some of the companies that failed under OTS supervision during the financial crisis of 2007–2010 include American International Group (AIG), Washington Mutual, and IndyMac. The OTS was implicated in a backdating scandal regardi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of California State Prisons
This is a list of state prisons in California operated by the California Department of Corrections and Rehabilitation (CDCR). CDCR operates 34 adult prisons in California, with a design capacity of 85,083 incarcerated people. CDCR both owns and operates 34 of the state prisons; it additionally operates California City Correctional Facility, a prison leased from CoreCivic. CDCR operates a variety of other incarceration facilities, including fire camps and California Division of Juvenile Justice facilities. For more information on the totality of jurisdictions and facilities involved in incarceration in California, see Incarceration in California. For more information on the history, conditions, and demographics of California's prison system specifically, see Prisons in California. Facilities Reception centers house incarcerate people incoming to the state prison system while they complete an evaluation and receive a custody score. After that, they may be transferred to ano ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Settlement (litigation)
In law, a settlement is a resolution between disputing parties about a legal case, reached either before or after court action begins. A collective settlement is a settlement of multiple similar legal cases. The term also has other meanings in the context of law. Structured settlements provide for future periodic payments, instead of a one time cash payment. Basis A settlement, as well as dealing with the dispute between the parties is a contract between those parties, and is one possible (and common) result when parties sue (or contemplate so doing) each other in civil proceedings. The plaintiffs and defendants identified in the lawsuit can end the dispute between themselves without a trial. The contract is based upon the bargain that a party forgoes its ability to sue (if it has not sued already), or to continue with the claim (if the plaintiff has sued), in return for the certainty written into the settlement. The courts will enforce the settlement. If it is breached, the p ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Equinox (MLM)
Equinox International was a multi-level marketing company founded in 1991 and headed by Bill Gouldd. In 1996, Equinox was listed #1 on Inc Magazine's list of the 500 fastest-growing private companies in the United States. The company and its founder came under scrutiny for its business practices; starting in 1997, investors, the FTC, and several states brought suit charging Equinox was an illegal pyramid scheme rather than a legitimate business. On 25 April 2000, the Federal Trade Commission The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) antitrust law and the promotion of consumer protection. The FTC shares jurisdiction o ... issued a notice that Equinox International settled a court case with a penalty of $40 million in restitution. Gouldd was required to surrender substantial holdings, but retained (among other things) over a million dollars worth of real estat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Multi-level Marketing
Multi-level marketing (MLM), also called network marketing or pyramid selling, is a controversial marketing strategy for the sale of products or services in which the revenue of the MLM company is derived from a non-salaried workforce selling the company's products or services, while the earnings of the participants are derived from a pyramid-shaped or binary compensation commission system. In multi-level marketing, the compensation plan usually pays out to participants from two potential revenue streams. The first is based on a sales commission from directly selling the product or service; the second is paid out from commissions based upon the wholesale purchases made by other sellers whom the participant has recruited to also sell product. In the organizational hierarchy of MLM companies, recruited participants (as well as those whom the recruit recruits) are referred to as one's ''downline'' distributors. MLM salespeople are, therefore, expected to sell products directly to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States District Court
The United States district courts are the trial courts of the U.S. federal judiciary. There is one district court for each federal judicial district, which each cover one U.S. state or, in some cases, a portion of a state. Each district court has at least one courthouse, and many districts have more than one. District courts' decisions are appealed to the U.S. court of appeals for the circuit in which they reside, except for certain specialized cases that are appealed to the U.S. Court of Appeals for the Federal Circuit or directly to the U.S. Supreme Court. District courts are courts of law, equity, and admiralty, and can hear both civil and criminal cases. But unlike U.S. state courts, federal district courts are courts of limited jurisdiction, and can only hear cases that involve disputes between residents of different states, questions of federal law, or federal crimes. Unlike the U.S. Supreme Court, which was established by Article III of the Constitution, the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
District Of Columbia
) , image_skyline = , image_caption = Clockwise from top left: the Washington Monument and Lincoln Memorial on the National Mall, United States Capitol, Logan Circle (Washington, D.C.), Logan Circle, Jefferson Memorial, White House, Adams Morgan, National Cathedral , image_flag = Flag of the District of Columbia.svg , image_seal = Seal of the District of Columbia.svg , nickname = D.C., The District , image_map = , map_caption = Interactive map of Washington, D.C. , coordinates = , subdivision_type = List of sovereign states, Country , subdivision_name = , established_title = Residence Act , established_date = 1790 , named_for = George Washington, Christopher Columbus , established_title1 = District of Columbia Organic Act of 1801, Organized , established_date1 = 1801 , established_title2 = ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Special Master
In the law of the United States, a special master is generally a subordinate official appointed by a judge to ensure judicial orders are followed, or in the alternative, to hear evidence on behalf of the judge and make recommendations to the judge as to the disposition of a matter. The special master should not be confused with the traditional common law concept of a master, a judge of the High Court entrusted to deal with summary and administrative matters falling short of a full trial. In the federal judiciary of the United States, a special master is an adjunct to a federal court. Rule 53 of the Federal Rules of Civil Procedure allows a federal court to appoint a special master, with the consent of the parties, to conduct proceedings and report to the Court. Role The role of the special master, who is frequently but not necessarily an attorney, is to supervise those falling under the order of the court to ensure that the court order is being followed and to report on the act ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Los Angeles County Superior Court
The Superior Court of California, County of Los Angeles, is the California superior courts, California superior court with jurisdiction over Los Angeles County, California, Los Angeles County, which includes the city of Los Angeles. It is the largest single unified trial court in the United States. The Los Angeles Superior Court operates 38 courthouses throughout the county, including the Stanley Mosk Courthouse at the Los Angeles Civic Center. , the Presiding Judge is Samantha P. Jessner. Sherri R. Carter is the Executive Officer/Clerk of Court. With 5,400 employees and an annual budget of $769.5 million, the superior court operates nearly 600 courtrooms throughout the county.''A look at your Superior Court'', published by Los Angeles Superior Court History file:StanleyMoskCourthouse.jpg, Stanley Mosk Courthouse in 1983 When California declared its statehood in 1849 and became a part of the United States, the first California Constitution authorized the legislature to establish ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
