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35-432: The company was chartered on April 7, 1903. Construction began on March 21, 1905, and trains began running north from Apalachicola in 1907. The extension to Port St. Joe was completed on May 10, 1910. The company operated in receivership on three separate occasions: July 1907 to October 1908, May 1914 to February 1916 and May 1932 to December 1936. The company came under ownership of Alfred I. du Pont in 1933, along with

70-409: A creditor can enforce security against a company's assets in an effort to obtain repayment of the secured debt. It used to be the most popular method of enforcement by secured creditors , but recent legislative reform in many jurisdictions has reduced its significance considerably in certain countries. Administrative receivership differs from simple receivership in that an administrative receiver

105-722: A judicial office election for the Los Angeles County Superior Court has risen from $ 3,177 in 1970 to $ 70,000 in 1994. Notable judges: A commissioner is a subordinate judicial officer elected by the judges of the Court and given the power to hear and make decisions in certain kinds of legal matters, similar to the United States magistrate judge . Their jurisdiction includes, but is not limited to, traffic matters, family law and juvenile cases, criminal misdemeanors, and criminal felony cases through

140-553: A part of the United States, the first California Constitution authorized the legislature to establish municipal and such other courts as it deemed necessary. The 1851 California Judiciary Act divided the state into districts, placing Los Angeles, San Bernardino, and San Diego counties into one district. Each district had its own court, below which were County and then Justice of the Peace Courts. Judge Agustín Olvera of

175-583: A receivership scheme for the administration, by the insurance commissioner, of insurance companies found to be insolvent as set forth in the NAIC's Insurer Receivership Model Act." Some organizations have come into existence on the state level to alter the proceedings. An example is the California Receivers Forum, which is a non-profit organization "formed by interested receivers, attorneys, accountants, and property managers, with support from

210-404: 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 . Receiverships can be broadly divided into two types: Receiverships relating to insolvency are subdivided into two further categories: administrative/equity receivership, where

245-406: A situation likely to remain common for some years. Enforcement is also a significant aspect of the situations where administrative receivership is still permitted; for example, the ability to take control of the entirety of the assets is important in structuring insolvency-remote special purpose companies that issue securities or operate infrastructure projects. In common law jurisdictions outside of

280-440: A very powerful remedy, but it came to be considered unsatisfactory in that it was entirely a creature of the contract between the creditor and the borrower. There was no general ability on the part of the borrower or any other party to review the actions of the receiver (who would generally be acting on behalf of the borrower under the security document) or seek the supervision of the court. A general review of UK insolvency law in

315-552: 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 its financial obligations and is said to be insolvent . The receivership remedy is an equitable remedy that emerged in the English chancery courts , where receivers were appointed to protect real property. Receiverships are also

350-411: Is an accountant with considerable experience of insolvency matters. The common law has long recognised the concept of a receiver. Following development of the floating charge , creditors were effectively able to take security over a company's entire business by means of a floating charge over the undertaking. Security documents generally contained very wide powers of appointment such that on default

385-442: Is appointed over all of the assets and undertakings of the company. This means that an administrative receiver can normally only be appointed by the holder of a floating charge . Because of this unusual role, insolvency legislation usually grants wider powers to administrative receivers, but also controls the exercise of those powers to try to mitigate potential prejudice to unsecured creditors . Typically, an administrative receiver

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420-492: Is similar to the difference between the federal CM/ECF and PACER systems. The Court has nearly 4,800 employees, operates nearly 600 courtrooms throughout the county, and has an annual budget of $ 1 billion. The Court has 2.7 million new cases each year: Pursuant to California Government Code and the California Rules of Court , the Los Angeles County Superior Court has adopted Local Rules for its government and

455-617: Is the largest single unified trial court in the United States. The Superior Court operates 36 courthouses throughout the county. Currently, the Presiding Judge is Samantha P. Jessner and David W. Slayton is the Executive Officer/Clerk of Court. They, together with 583 judicial officers and 4,800 employees, operate the nearly 600 courtrooms throughout the county, with an annual budget of over $ 1 billion. When California declared its statehood in 1849 and became

490-588: The Enterprise Act 2002 . The administration regime was changed to make it more attractive, but also barred the right to appoint administrative receivers in any security created after 15 September 2003 (subject to certain specific exceptions). Any attempt to do so takes effect as a power to appoint an administrator. Administrative receivership still forms part of modern insolvency practice. Companies that get into financial difficulty today may well have security packages that were created before 15 September 2003,

525-595: The Federal Housing Finance Agency (FHFA) for government-sponsored enterprises (GSEs) such as Fannie Mae , Freddie Mac , and the 11 Federal Home Loan Banks . Most individual states also have granted receivership authority to their own bank regulatory agencies and insurance regulators. State Insurance Departments are accredited by the National Association of Insurance Commissioners (NAIC)—which states, "State law should set forth

560-539: The Los Angeles Superior Court , to address the needs and concerns of receivers, to facilitate communication between the receivership community and the courts, and to assist in raising the level of professionalism of receivers..." The California Receivers Forum reports five local affiliates in the state: Bay Area, Central California, LA/Orange County, Sacramento Valley and San Diego. Court-appointed receivers are "the most powerful and independent of

595-842: The 1980s began with the Cork Report and culminated in the Insolvency Act 1986 . It put forward two major reforms. First, it put the receiver and manager on a statutory footing: a receiver appointed to all or substantially all of a company's property was now an administrative receiver and subject to some statutory responsibilities. Second, it introduced an " administration order " as an equivalent process to administrative receivership – but available to any company by court order independent of any particular security arrangement. The UK Parliament expected that companies and creditors would use administration in preference to administrative receivership. Crucially, however, Parliament had conceded in

630-831: The California Gold Rush, the District Court system became ineffective and non-responsive to the needs of its constituency. In 1879 California adopted a new constitution and with it a revised court system. The District Courts became appeals courts below the State Supreme Court . To take over the District Courts original function, the county Superior Courts were created. The new Superior Court of Los Angeles County began with two judges: Ygnacio Sepulveda and Volney E. Howard . In 1905, juvenile delinquency and dependency hearings were put under

665-599: The County Court and Judge Jonathan R. Scott of the Justice of the Peace Court were the first judges of these lower courts. Almost immediately the District Court system was burdened by the vast expanse of the district. District Judges were required to hold court proceedings where the cases were filed. Because of the distance District Court Judges had to travel to conduct trials and the sudden growth in population due to

700-457: The County and by 1973 the Court had implemented a county wide system to process the payment of court appointed attorneys. The following year, 1974, all jury services in the county had been consolidated. In 1986 county-wide uniform criminal Local Court rules and uniform exhibit processing procedures were adopted to ensure consistency in how criminal cases were handled through the court system. By 1988

735-497: The Insolvency Act that administrative receivership should have priority – that is, a secured creditor with a floating charge could defeat any attempt to commence an administration by appointing an administrative receiver. As a result, administration was not as popular as lawmakers had envisaged, and secured creditors habitually appointed administrative receivers to enforce security rights. Parliament took more drastic action in

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770-1046: The Judges of the Municipal and Superior Courts voted to merge into the Superior Court of California, County of Los Angeles. In 2000, a pilot Complex Civil Litigation Program was established in the Los Angeles Superior Court, which has since been made permanent. The Court uses the California Court Case Management System (CCMS) v3, and exposes services to the public such as the Criminal Defendant Index , Civil Party Name Search , Civil Case Document Images , Traffic Ticket Online Services , e-File Small Claims , and Divorce Judgment Documents . The difference between CCMS and these other services

805-757: The Municipal and Superior Courts began to cross-assign cases to ease the county's judicial backlog. In 1993 the Superior Court adopted the Municipal Courts' automated criminal case processing system; known as the Municipal Court Information it was rebranded the Trial Court Information System. Also in 1993 the Superior Court was administratively unified with several of the Municipal Courts. And by 1999 17 more Municipal Courts had joined. Finally on January 22, 2000, in accordance with Proposition 220 passed in 1998,

840-485: The Superior Court's jurisdiction, as were mental health hearings in 1914. Eventually the Superior Court's jurisdiction came to include all civil, felony criminal, family law, juvenile delinquency and dependency, and probate cases in the county. Throughout its history the Superior Court had had a close relation with the county's many Municipal Courts. By 1971 the Superior Court assumed responsibility for coordinating, providing and scheduling court interpreters for all courts in

875-510: The United Kingdom, administrative receivership remains popular. A number of offshore jurisdictions market transaction structures to banks on the basis that they still retain the freedom to appoint administrative receivers in those jurisdictions. Because of their unique role, insolvency legislation usually confers wide powers on administrative receivers under applicable insolvency law, which is usually concurrent with powers granted under

910-528: The approval of the Executive Committee and the Presiding Judge. There are several officers of the court , including judges, jurors, commissioners, prosecutors, defense attorneys, clerks, bailiffs, and court reporters. The state Administrative Office of the Courts maintains an official roster of all superior court judges, including the 431 judges of the L.A. Superior Court. Median spending for

945-401: The creditor could take over the business immediately and without the input of any court. A receiver appointed to the entire business became known as a receiver and manager . The receiver and manager would typically have extensive powers over the business, including the power to sell it at a time and on terms that suited the appointing creditor. The ability to appoint a receiver and manager was

980-693: The document(s) underlying his appointment" – i.e., a statute , financing agreement, or court order . The receiver may: Several regulatory entities have been granted power by the Congress to place banking and financial institutions into receivership like the Office of the Comptroller of the Currency for failing nationally chartered commercial banks ; the Office of Thrift Supervision for failing savings and loan associations (thrift institutions); and

1015-605: The entire town of Port St. Joe. The railroad's largest customer, the St. Joe Paper Company mill in Port St. Joe, was owned by the Alfred I. duPont Testamentary Trust from 1936 to 1996. On September 30, 1940, Edward Ball , who managed the du Pont trust properties, transferred control of the railroad to the St. Joe Paper Company. When the paper company was sold in 1996, ownership of the railroad

1050-466: The government of its officers. The Presiding Judge assigns cases to departments and judges to departments. Nominations and election of the Presiding and Assistant Presiding Judge are made by all judges and take place between September and October of each year. All departments are divided into several principal divisions under the policy and procedures established by its supervising judge, subject to

1085-424: The judicially appointed managers." Unlike special masters and monitors, "the receiver completely displaces the defendants: the receiver makes large and small decisions, spends the organization's funds, and controls hiring and firing determinations." Examples of court-appointed receivers include: Administrative receivership is a procedure in the United Kingdom and certain other common law jurisdictions whereby

Apalachicola Northern Railroad - Misplaced Pages Continue

1120-545: The preliminary hearing stage. There are 140 commissioners. The Los Angeles County District Attorney , currently George Gascón , prosecutes crimes before the court on behalf of California, Los Angeles County, and all cities and special districts within Los Angeles County. The Los Angeles County Public Defender , currently Ricardo Garcia, is the public defender . https://pubdef.lacounty.gov/ The court clerks, or Judicial Assistants, are responsible for managing

1155-434: The receiver is granted wide management powers over all or most of the property of a business, and other receiverships (sometimes misleadingly called fixed charge receiverships ) where the receiver has limited control over specific property, with no broader powers beyond managing or selling the individual asset. Receivers are appointed by either a government regulator, privately, or a court. The receiver's powers "flow from

1190-660: The security document. However, the corollary is that administrative receivers are usually required under applicable legislation to file reports in relation to the period of their receivership. Similarly to the United Kingdom process, methods for receiver appointment in Ireland are as follows: Los Angeles County Superior Court The Superior Court of Los Angeles County is the California Superior Court located in Los Angeles County . It

1225-582: Was returned to the St. Joe Company . AN Railway , a subsidiary of the Rail Management Corporation , leased the line from the St. Joe Company on September 1, 2002 and acquired the railroad's locomotives, rolling stock, and railroad equipment. From that date the Apalachicola Northern ceased to operate as a railroad. The St. Joe Company continues to own the physical line. Receivership In law , receivership

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