1. When a judgment creditor files a motion to appoint a receiver, the date for a hearing thereon shall be fixed by the Magistrate Department bailiff who shall notify all interested parties of the hearing date.
2. At the hearing on the motion to appoint a receiver, the movant must establish by clear and convincing evidence that the appointment is necessary to protect the rights of the parties.  If the motion is granted, bond is set in the amount of the judgment, including interest, unless the judgment creditor can establish that a bond in a lesser amount is warranted.  At the conclusion of the hearing, the judgment creditor shall submit a judgment entry to the hearing magistrate within fourteen (14) days from the hearing date for approval.  Failure to submit a timely entry may result in the dismissal of the judgment creditor’s motion for the appointment of a receiver for want of prosecution.

1. Unless the court, by entry, specifically authorizes the receiver to continue a business, the receiver shall expeditiously take control of the assets of the judgment debtor, inventory and appraise all assets and known liabilities, give notice to all known creditors and debtors of his or her appointment as receiver and afford them the opportunity to present and prove their claims, determine the validity and priority of creditor’s claims, take such steps as may be necessary to reduce the assets to cash and make distribution of said cash between the various classes of creditors.
2. The receiver shall file an inventory of all property, assets and known liabilities in his or her possession no later than thirty (30) days from the date the court order is journalized appointing the receiver unless extended by the court for good cause.
3. The court shall set a hearing within forty-five (45) days after the receiver is appointed to evaluate the receiver’s management plan and to review the receiver’s inventory report.  A summary of plans for the future conduct of the receivership shall be submitted prior to the hearing date.
4. A receiver shall file reports of receipts and disbursements with supporting documentation of his or her acts and transactions as a receiver within ninety (90) days after the date of appointment.  Consecutively numbered reports with accounts as to all receipts and expenditures made by the receiver and a summary of plans for the future conduct of the receivership shall be filed at regular intervals every ninety (90) days thereafter until discharged or at such other times as the court may direct.  Failure to file any report within thirty (30) days after the report is due or ordered shall be grounds for removal of the receiver without notice and without compensation.  Any person removed as receiver shall be ineligible for any subsequent appointment in the matter.
5. All judgment entries approving motions shall be submitted to the court within fourteen (14) days of the hearing.  Failure to timely file judgment entries shall result in dismissal of the receiver without notice and without compensation, and/or denial or dismissal of the motion without notice.
6. In all receiverships in which property appraised in excess of One Thousand Dollars ($1,000.00) is to be put up for public or private sale, the receiver shall file in advance of such sale, a report with the court showing the amount of expenditures incurred or to be incurred prior to the time the sale is to be conducted.

All motions and reports, filed subsequent to the appointment of a receiver, shall be served on the plaintiff, the defendant, and other creditors or their counsel as appropriate.  All motions, in connection with a receivership, shall be forwarded by the Clerk of Court to the Magistrate’s Department.  Pending receivership files shall be retained in the Clerk of Court’s office.

Any application for payment of fees (partial or final) to a receiver shall be submitted for approval by the court.  Written notice of the hearing on the application for fees in excess of Five Hundred Dollars ($500.00) shall be served personally or by mail on all creditors or to their counsel of record, unless otherwise provided by court order.  Such application shall show time spent on the following enumerated items:

1. amounts of money collected, disbursed and on hand
2. the status of secured and unsecured creditors claims, including amounts claimed, payments made thereon, and balances due
3. the amounts and dates of prior fees authorized in the case
4. an estimate of the amount of time necessary to complete work in the receivership and make final distribution

Charges for the receiver’s services shall not exceed a rate of $100.00 per hour.