WMI was never put in receivership, INcorrect?
WMI's BANKRUPTCY IS a receivership!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
May NOT have been a seizure but it is a BANKRUPTCY RECEIVERSHIP!!!!!
In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in cases where a company cannot meet financial obligations or enters bankruptcy.[1] The receivership remedy is an equitable remedy that emerged in the English chancery courts, where receivers were appointed to protect real property.[2] Receiverships are also a remedy of last resort in litigation involving the conduct of executive agencies that fail to comply with constitutional or statutory obligations to populations that rely on those agencies for their basic human rights.[2]
YOU KNOW LIKE A TRUSTEE!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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