Fill and Sign the Stipulation and Order Regarding Judgment and Appointment of Receiver Minnesota Form

STATE OF MINNESOTA DISTRICT COURT COUNTY OF             JUDICIAL DISTRICT FAMILY COURT DIVISION In Re the Marriage of: Court File No.             , Petitioner, STIPULATION AND ORDER AND       , Respondent, WHEREAS, the parties were divorced by decree entered __________ , 20 ___ ; and WHEREAS, Petitioner served a motion seeking judgments against the Respondent, the appointment of a Receiver and attorney fees; and WHEREAS, the parties have reached a stipulated agreement regarding the matters contained in Petitioner's motion; NOW, THEREFORE, based on such stipulation and upon all of the files, records, and proceedings herein, the Court makes the following: ORDER 1. The Petitioner is hereby granted judgment against Respondent for spousal maintenance arrearages from __________ , 20 ___ through __________ , 20 ___ , in the amount of $ __________ . 2. The Petitioner is hereby granted judgment against Respondent in the amount of $ __________ for failure to make property division payments as ordered in the parties' Judgment and Decree of Dissolution of marriage entered __________ , 20 ___ . 3. Pursuant to the agreement of the parties and under Minn. Stat.  518.24 and 575.05 __________ , is hereby appointed as Receiver in this matter and shall comply with Rule 66 of the - 1 - Minnesota Rules of Civil Procedure and other applicable rules and statutes. The Receiver shall receive reasonable fees for services rendered, to be approved and paid as ordered by this Court. The Receiver shall be afforded judicial immunity as an officer of the Court or as a quasi- judicial officer. The Receiver in this matter is integral to the judicial process and must be allowed to perform her functions without the intimidating effect of potential lawsuits. See , Briscoe v. LaHue , 460 U.S. 325, 335 (1983), cert. denied , 460 U.S. 1037 (1983), Grammel v. Ernst & Ernst , 345 Minn. 249, 71 N.W.2d 364 (1955), and Tindell v. Rogosheske , 421 N.W.2d 340 (Minn. App. 1988) aff'd 428 N.W.2d 386 (1988). 4. The purpose of this receivership is to liquidate Respondent's personal estate, or such part thereof as may be necessary to give effect to this Order, by exercising good business judgment in selling the various assets in whole or in part and/or dividing the assets between the parties. Assets placed on the market should be sold at the highest market value reasonably obtainable, and the Receiver should take tax consequences into account in selling and distributing assets and proceeds. The Receiver is authorized, empowered, and directed without further leave of this Court to liquidate and convert into money all of the assets, property, estate, effects, and interests of every nature of Respondent's personal estate that are hereafter taken or received by the Receiver and held in Receiver's possession and control pursuant to this Order, by selling, conveying, and disposing of the same, either at public or private sale, on terms and in the manner the Receiver deems most beneficial to those persons entitled to the proceeds, and with due regard to realization of their true and proper value, and to deposit the proceeds into a trust account, pending further order of this Court; provided, however, that no such sale shall be made except on due and prior notice to any person holding or claiming an encumbrance or lien against, or affecting, any such property, asset, effect, or interest. 5. The Receiver shall prepare and file with the Court, within thirty (30) days following service of this Order, a full and detailed inventory, under oath, of all the real and personal property, assets, and effects of every nature of the Respondent's personal estate, setting forth therein the manner in which the funds belonging to such estate are invested and the approximate income - 2 - therefrom. 6.A. The Receiver shall take all steps reasonably necessary to preserve, maintain, and repair all the real and personal assets of the Respondent's estate; however, the Receiver shall not expand the productive capacity of the estate by acquiring additional real estate without proper leave of this Court, on due notice to all parties in interest; 6.B. The Receiver shall file with this Court monthly statements of profit and loss, as well as a monthly balance sheet, prepared by a certified public accountant of the Receiver's selection. 6.C. The Receiver shall prepare and file with this Court in a timely manner a list of all known debtors and all secured and unsecured creditors of the Respondent's personal estate, and of all other persons having, or purporting to have, claims against the Respondent's estate or its property, together with the amounts and nature of such debts, obligations, and claims. This list shall be in addition to, and not in substitution for, the Receiver's report of claims, to be filed after expiration of the period for filing claims herein. 6.D. The Receiver shall maintain a bank account in Receiver's own name into which the Receiver shall deposit all revenues of the Respondent's estate and from which the Receiver shall pay all reasonable and proper business expenses of the Respondent's estate. 7. The Receiver shall take possession of all the assets, files, papers, records, documents, monies, securities, chooses in action, books of account, and all other property, real, personal or mixed, of the Respondent's estate that are within the jurisdiction of this Court, and shall retain custody of all such property, records and documents pending the final determination of this proceeding, or until the further order of this Court. 8. It is also ordered that while this receivership is pending, and until the further order of this Court, all the parties herein, their employees, agents, and attorneys be, and they are hereby, enjoined from interfering with the exercise of control by the Receiver over the assets and income of the Respondent or any business entity in which he owns a controlling interest. 9. The Receiver is authorized and empowered to enforce and collect any debts, accounts receivable, rents, or other obligations due and owing to the Respondent's estate as of the - 3 - date of institution of the receivership, or hereafter becoming due and payable to the Respondent's estate, and to prosecute, in the Receiver's own name, suits in law or in equity for the enforcement and recovery of the same. The Receiver is further authorized and empowered to settle and compromise any such obligations whenever, in the judgment of the Receiver, such compromise or settlement is in the best interests of the parties involved in this proceeding. 10. The Receiver is authorized, empowered, and directed, without further leave of the Court, to employ any assistants, servants, agents, or such other persons as the Receiver deems necessary and proper to assist the Receiver in diligently executing the duties imposed on the Receiver by this Order, relative to renting, managing, operating, insuring, maintaining, preserving, protecting, and developing the property of the Respondent's estate in the Receiver's possession or under the Receiver's care and control, on such terms and conditions as the Receiver deems just and beneficial to the performance of the trust of the Receiver's office. The Receiver is further authorized and directed to pay the reasonable value of the services rendered by such persons from the funds hereafter received by the Receiver and in the Receiver's possession. 11. The Receiver shall be authorized and empowered to discharge, adjust, or settle, from the funds in the Receiver's possession, all claims against or obligations of the receivership estate that may hereafter be filed with the Court pursuant to the requirements of this Order, arising from any prior or current indebtedness of the Respondent's estate, or owing or incurred by the Receiver, including taxes, assessments, and other lawful charges against any property held by the Receiver, on terms and in such manner as the Receiver deems just and beneficial to the receivership estate; provided, however, that in all cases of mutual debts or mutual credits between the Respondent's estate and a creditor, the account shall be stated, the one debt set off against the other, and the balance only shall be paid, settled, or otherwise discharged pursuant to this Order. 12. The Receiver is empowered to execute and deliver all instruments that will accomplish or facilitate the exercise of the powers and duties established herein and to perform all other acts necessary to administer the receivership. This power shall include, but not be limited to, selling, exchanging, mortgaging, leasing, conveying, encumbering, pledging or otherwise disposing - 4 - of any real and personal property for any period upon any terms and conditions, to any person, entity, party or agent. 13. The Receiver is directed to prepare and file with the Court, for its approval, within sixty (60) days after date of this Order, and monthly thereafter, so long as any part of the receivership property or the income or proceeds thereof remain in his possession or care as such receiver, and within sixty (60) days after termination of the receivership, a full and complete report, under oath, setting forth all receipts and disbursements and reporting all acts and transactions regarding the execution of the trust of his office, including a current inventory of the funds, assets, and property remaining in his possession, all interests in and claims against the same, and the current and anticipated income there from, and all debts and obligations contracted and expenditures made by the Receiver and the reasons therefore, reflecting in the first accounting the full amount of the inventory, and in subsequent accountings the balance shown in the last previous accounting plus all amounts collected or property received in addition thereto, and stating and explaining all changes in the assets in the Receiver's charge that have occurred during the period covered by the accounting; and the Receiver is further directed to serve copies thereof on the attorneys of record for all parties herein. 14.A. No bond or other indemnity shall be required of the Receiver appointed hereunder unless by further order. 14.B. If any vacancy in the receivership occurs, the parties shall promptly nominate a successor, in writing, filed with the Court. A nominated successor receiver's appointment shall become effective, following such vacancy, upon the Order of the Court. The Court for good cause may remove the Receiver or any successor. 14.C. The Receiver shall have the right to resign at any time by delivering a written resignation to the Court. The resignation shall be effective sixty (60) days after the date of delivery of the resignation, or upon the earlier appointment of a successor receiver. After the resignation becomes effective, the Receiver shall have no further duties, other than to account, and shall not be liable or responsible for the acts of any successor receiver. - 5 - 14.D. The Receiver shall render accounts to the Court and to the parties. The approval of these accounts by the Court shall constitute a valid and effective release of the Receiver with respect to all transactions disclosed by the accounts and shall be binding and conclusive as to all persons. 15. The Receiver shall investigate and determine whether the Respondent has conveyed any property for less than adequate consideration since __________ , 20 ___ , and shall be empowered to commence action against the recipient of any such conveyance of property for return of the property for adequate consideration. 16. In any arrangement for disbursement of income or assets to satisfy the judgments awarded herein the Receiver will also consider the rights of Respondent's other creditors and the need that the Respondent be left with enough funds from his net pay to survive. 17. That responsibility for payment of the Receiver is hereby reserved. 18. That this matter is hereby continued until __________ , 20 ___ at which time the Court shall review the distribution of Respondent's income and assets proposed by the Receiver, or in lieu thereof, to the extent that the parties agree that counsel rather than a receiver shall locate, receive, and recommend distribution, then and in that event, the Court will review the inventory, the extent of the indebtedness, the priority of same and the proposed distribution of Respondent's income and assets as submitted by counsel, either jointly or separately. Dated: __________ BY THE COURT: ______________________________________ The Honorable _______________ Judge of District Court IT IS HEREBY STIPULATED AND AGREED that the parties named above have read the foregoing order, understand and accept its terms, have consulted with their respective counsel as to - 6 - its meaning and consequences, and acknowledge receipt of a copy of the same, and that the Court may execute its Order accordingly without further notice to either party. Dated: ________________________ Dated:________________________ ________________________________ ____________________________________ , Petitioner , Respondent Law Firm . Law Firm ________________________________ __________________________________ ___________________________ ___________________________ Attorney for Petitioner Attorney for Respondent ___________________________ ___________________________ ___________________________ ___________________________ Telephone ___________________________ Telephone ___________________________ - 7 -