Aug. 31 at 9:51 PM
$BLSP The Karelitz plaintiffs better hope that, if Kevin Singer is appointed as receiver for Blue Sphere, he is able to identify assets or other sources of funds that can cover the receivership expenses.
Under Nevada’s receiver statute, NRS 32.340, a receiver’s reasonable and necessary compensation and expenses can generally be paid from the receivership estate. However, if the estate does not have sufficient funds, the court may look to the party who requested the receiver’s appointment for payment, depending on the circumstances and the court’s orders.
That means the Karelitz plaintiffs should understand that their financial exposure may not necessarily be limited to any bond or initial funding they provide. If BLSP has no recoverable assets and Singer’s approved fees and expenses exceed the available funds, the court could potentially require the petitioning party to cover some or all of the shortfall.
