Subdivision 1. Termination of receivership. The court may discharge a receiver and terminate the receivership. If the court determines that the appointment of the receiver was procured in bad faith, the court may assess against the person who procured the receiver's appointment:
(1) all of the receiver's fees and expenses and other costs of the receivership; and
(2) any other sanctions the court deems appropriate.
Subd. 2. Request for discharge. Upon distribution or disposition of all receivership property, or the completion of the receiver's duties, the receiver shall file a final report and shall request that the court approve the final report and discharge the receiver.
Subd. 3. Contents of final report. The final report, which may incorporate by reference interim reports, shall include, in addition to any matters required by the court in the case:
(1) a description of the activities of the receiver in the conduct of the receivership;
(2) a schedule of all receivership property at the commencement of the receivership and any receivership property added thereafter;
(3) a list of expenditures, including all payments to professionals retained by the receiver;
(4) a list of any unpaid expenses incurred during the receivership;
(5) a list of all dispositions of receivership property;
(6) a list of all distributions made or proposed to be made; and
(7) if not done separately, a motion or application for approval of the payment of fees and expenses of the receiver.
Subd. 4. Notice of final report. The receiver shall give notice of the filing of the final report and request for discharge to all persons who have filed notices of appearance. If there is no objection within 21 days, the court may enter an order approving the final report and discharging the receiver without the necessity of a hearing.
Subd. 5. Effect of discharge. A discharge removes all authority of the receiver, excuses the receiver from further performance of any duties, and discharges any lis pendens recorded by the receiver.
2012 c 143 art 1 s 18
Structure Minnesota Statutes
Chapters 570 - 583 — Postjudgment Remedies; Alternative Dispute Resolution; Bonds
Section 576.22 — Applicability Of Chapter And Of Common Law.
Section 576.23 — Powers Of The Court.
Section 576.24 — Types Of Receiverships.
Section 576.25 — Appointment Of Receivers; Receivership Not A Trust.
Section 576.26 — Eligibility Of Receiver.
Section 576.28 — Immunity; Discovery From Receiver.
Section 576.29 — Powers And Duties Of Receivers; Generally.
Section 576.31 — Duties Of Respondent.
Section 576.32 — Employment And Compensation Of Professionals.
Section 576.33 — Schedules Of Property And Claims.
Section 576.35 — Notices, Motions, And Orders.
Section 576.36 — Records; Interim Reports.
Section 576.37 — Removal Of Receivers.
Section 576.38 — Termination Of Receiverships; Final Report.
Section 576.39 — Actions By Or Against Receiver Or Relating To Receivership Property.
Section 576.40 — Turnover Of Property.
Section 576.41 — Ancillary Receiverships.
Section 576.43 — Utility Service.
Section 576.44 — Receivership Financing.
Section 576.45 — Executory Contracts.
Section 576.46 — Sales Free And Clear Of Lien In General Receiverships.
Section 576.47 — Abandonment Of Property.
Section 576.48 — Liens Against After-acquired Property.
Section 576.49 — Claims Process.
Section 576.50 — Objection To And Allowance Of Claims.
Section 576.51 — Priority Of Claims.