The Madera Tribune is a newspaper in Madera, California .
34-685: Edgar Eugene Vincent founded the Madera Mercury on March 21, 1885. Another paper, the Madera Tribune , was founded in 1892. The two papers merged to become the Madera Mercury-Tribune in 1920. The Madera Mercury-Tribune was put into receivership in 1949. The assets were then purchased by Dean Lesher , who had purchased another paper called the Madera Daily News , founded in the 1940s. The combined paper
68-716: 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 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
102-409: 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
136-455: A judge or magistrate judge. On August 22, 2022, in the wake of the FBI search of Mar-a-Lago , the residence of former US President Donald Trump , Trump demanded the appointment of a "neutral" special master to review the highly sensitive documents seized during the execution of the search warrant for potential attorney–client privilege . Federal District Court judge Aileen Cannon , before whom
170-463: A judge to ensure judicial orders are followed, or in the alternative, to hear evidence on behalf of the judge and make recommendations to the judge as to the disposition of a matter. The special master should not be confused with the traditional common law concept of a master , a judge of the High Court entrusted to deal with summary and administrative matters falling short of a full trial. In
204-583: 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
238-406: 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
272-479: A trial: the taking of evidence and a ruling. The Supreme Court can then assess the master's ruling much as a normal appeals court would, rather than conduct the trial itself. That is necessary as trials in the US almost always involve live testimony, and it would be too unwieldy for nine justices to rule on evidentiary objections in real time. In United States federal courts , special masters are appointed under Rule 53 of
306-440: 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
340-411: 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
374-442: 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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#1732772025386408-521: Is one of the last true conservative newspapers in California." This article about a California newspaper is a stub . You can help Misplaced Pages by expanding it . 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
442-588: 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,
476-595: 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
510-497: The Federal Rules of Civil Procedure . Rule 53 allows for a special master to be appointed only if one of the following exists: (1) the parties consent to the appointment, (2) to hold a trial without a jury or make recommended findings of fact where there is some exceptional condition or accounting or difficult computation of damages, or (3) address pre-trial or post-trial matters that cannot be effectively and timely addressed by
544-539: 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
578-518: The federal judiciary of the United States , a special master is an adjunct to a federal court. Rule 53 of the Federal Rules of Civil Procedure allows a federal court to appoint a special master, with the consent of the parties, to conduct proceedings and report to the Court. The role of the special master, who is frequently but not necessarily an attorney , is to supervise those falling under
612-842: 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
646-450: The FBI during the raid. Legal experts believed Trump's demand for a special master was a strategic error, according to The New York Times . On September 29, Cannon ruled that Trump allegedly did not have to present evidence to the claim that the FBI had "planted" evidence against him, claiming, "There shall be no separate requirement on Plaintiff at this stage, prior to the review of any of
680-674: The FBI". However, soon after Dearie's appointment, frictions ensued when Trump's legal team did not provide proof of Trump's actually having declassified the documents, as he has repeatedly claimed to justify their presence at Mar-a-Lago, despite Dearie's requests. Instead, Dearie declared that if the Justice Department made "an acceptable case that they remain classified, then he would be inclined to regard them as classified" and thus not eligible for returning them to Trump's possession. Likewise, Dearie demanded proof of Trump's false claims that certain documents were "planted" by
714-497: 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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#1732772025386748-510: 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
782-466: The amount appropriated by a legislative body for the remediation of the situation being examined. Their powers have generally been found to be valid and their remedies upheld by US courts. The US Supreme Court will normally assign original jurisdiction disputes (cases such as disputes between states that are first heard at the Supreme Court level) to a special master to conduct what amounts to
816-401: 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
850-693: 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
884-454: The election was a "hoax". On October 14, the DOJ filed a request with a federal appeals court to end the special master review, calling it "unwarranted" since "[the] plaintiff has no plausible claim of executive privilege [...] and no plausible claim of personal attorney-client privilege". Dearie himself also expressed a similar assessment. On December 1, 2022, the federal appeals court reversed
918-424: 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
952-520: The matter was set to be argued, expressed she was likely to agree. On September 5, 2022 Cannon granted the request, which was appealed by the Department of Justice on September 8, on the grounds that "[this] order would irreparably harm the government and the public by unnecessarily requiring the government to share highly classified materials with a special master". On September 12, the DOJ approved one of Trump's nominees, Raymond J. Dearie , for
986-417: The order of the court to ensure that the court order is being followed and to report on the activities of the entity being supervised in a timely matter to the judge or the judge's designated representatives. Special masters have been controversial in some cases, and are cited by critics as an example of judicial overreach. For example, special masters have at times ordered the expenditure of funds over and above
1020-434: 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
1054-463: 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: Special master In the law of the United States , a special master is an official appointed by
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1088-614: The seized materials. … The Court’s Appointment Order did not contemplate that obligation," and extended the deadline for the files' review from November 30 to December 16, drawing widespread criticism from legal experts. On October 8, 2022, The New York Times reported that Trump had told advisers he retained the documents found by the FBI at Mar-a-Lago with the intention of pressuring the National Archives and Records Administration into trading them for files he thought would prove his claims that any Russian interference during
1122-592: The special master role. Dearie's objectivity in this case was also questioned by news reports about the controversial role of the Foreign Intelligence Surveillance Court , of which Dearie was a member, during the FBI surveillance of Carter Page in the Crossfire Hurricane affair ; according to insider sources, Trump's lawyers and advisers have purportedly expressed hope that Dearie has since become "a deep skeptic of
1156-619: Was called the Madera News Tribune . After Lesher's death, Lesher Newspapers, Inc. sold the paper to U.S. Media, which then sold it to Pacific Sierra Publishing. Pacific Sierra Publishing was about to shut down the paper in 2003, when it was sold to then editor Charles Doud, who formed the Madera Printing and Publishing Company, Inc. in 2004. On the newspaper's website, the paper cites a quote by conservative activist and consultant Stephen Frank, saying " The Madera Tribune
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