Remedy ~ Receiver

Receiver Remedies Non-Money Mainuvta07a03iiremedyreceiver

RECEIVER

RECEIVER § 7(a)(3)(ii)

(a) In an action for relief against a transfer or obligation under this [Act], a creditor, subject to the limitations in Section 8, may obtain:

(3) subject to applicable principles of equity and in accordance with applicable rules of civil procedure:
(ii) appointment of a receiver to take charge of the asset transferred or of other property of the transferee; or
JayNote
The creditor can also have a receiver appointed to take charge of the asset. Getting a receiver appointed is often part of a creditor's end game, since few debtors can stand a receiver very long, particularly if the creditor is able to get the court to convert the receiver to a general receiver for all the debtor's assets. The UVTA provides a good way for a creditor to "get the receiver's foot in the door" by taking over a fraudulently-transferred asset, with the idea later being to ask the court to take the slight step of converting the existing limited receivership to a full one.

BURDEN OF PROOF § 7(g)

(g) The following rules determine the burden of proving matters referred to in this section:

(1) A party that seeks to invoke subsection (a), (d), (e), or (f) has the burden of proving the applicability of that subsection.
(2) Except as otherwise provided in paragraphs (3) and (4), the creditor has the burden of proving each applicable element of subsection (b) or (c).
(3) The transferee has the burden of proving the applicability to the transferee of subsection (b)(1)(ii)(A) or (B).
(4) A party that seeks adjustment under subsection (c) has the burden of proving the adjustment.
JayNote
The burden of proving entitlement to a money judgment is on the Creditor.

STANDARD OF PROOF § 7(h)

(h) The standard of proof required to establish matters referred to in this section is preponderance of the evidence.

Prefatory Note (UVTA 2014). Evidentiary Matters.
New §§ 4(c), 5(c), 8(g), and 8(h) add uniform rules allocating the burden of proof and defining the standard of proof with respect to claims for relief and defenses under the Act.
Language in the former comments to § 2 relating to the presumption of insolvency created by § 2(b) has been moved to the text of that provision, the better to assure its uniform application.





RECEIVER TOPICS AND OPINIONS


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