Liability and indemnity

The receiver is personally liable for torts committed in the course of the receivership, and for:

• • a contract made prior to appointment if he or she adopts it. To ensure that it is not taken to have been adopted, the receiver should get leave of the court to repudiate it;
• • certain continuing contracts made prior to appointment, unless the receiver gives notice of disavowal upon appointment;
• • certain contracts made after appointment notwithstanding any stipulation to the contrary; and
• • other contracts entered into after appointment, unless personal liability is excluded, which may be either express or implied.

See Liability and Indemnity.