17-6907. Same; sale of perishable or deteriorating property during pendency of litigation. Whenever the property of a corporation is at the time of the appointment of a trustee or receiver encumbered with liens of any character, and the validity, extent or legality of any such lien is disputed or brought in question, and the property of the corporation is of a character which will deteriorate in value pending the litigation respecting the lien, the district court may order the receiver or trustee to sell the property of the corporation, clear of all encumbrances, at public or private sale, for the best price that can be obtained therefor. The net proceeds arising from the sale thereof, after deducting the costs of the sale, shall be paid into the court, there to remain subject to the order of the court, and to be disposed of as the court shall direct.
History: L. 1972, ch. 52, § 110; L. 2004, ch. 143, § 68; L. 2016, ch. 110, § 95; July 1.
Structure Kansas Statutes
Article 69 - Insolvency; Receivers
17-6901 Receivers for insolvent corporations; appointment; powers.
17-6903 Same; notices to stockholders and creditors.
17-6904 Same; filing inventory of corporate assets and list of debts owing and receivable.
17-6905 Same; proof of claims by creditors; claims barred, when; notice.
17-6906 Same; procedure for adjudicating creditors' claims; appeal.
17-6907 Same; sale of perishable or deteriorating property during pendency of litigation.
17-6908 Same; compensation, costs and expenses.
17-6909 Same; substitution of receiver as plaintiff; abatement of actions.
17-6910 Employee's lien for wages when corporation insolvent.
17-6911 Discontinuance of liquidation of assets; dismissal of trustee or receiver.
17-6912 Compromise or arrangement between corporation and stockholders or creditors.
17-6913 Proceeding under the federal bankruptcy code of the United States; implementation.