Florida Statutes

Fla. Stat. § 607.1432 (2025)

Receivership or custodianship.

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607.1432 Receivership or custodianship.—

(1) A court in a judicial proceeding brought under s. 607.1430 may appoint one or more receivers to wind up and liquidate, or one or more custodians to manage, the business and affairs of the corporation. The court shall hold a hearing, after notifying all parties to the proceeding and any interested persons designated by the court, before appointing a receiver or custodian. The court appointing a receiver or custodian has exclusive jurisdiction over the corporation and all of its property wherever located.

(2) The court may appoint a natural person or an eligible entity authorized to act as a receiver or custodian. The eligible entity may be a domestic eligible entity or a foreign eligible entity authorized to transact business in this state. The court may require the receiver or custodian to post bond, with or without sureties, in an amount the court directs.

(3) The court shall describe the powers and duties of the receiver or custodian in its appointing order, which may be amended from time to time. Among other powers:

(a) The receiver:

1. May dispose of all or any part of the assets of the corporation wherever located, at a public or private sale, if authorized by the court; and

2. May sue and defend in his, her, or its own name as receiver of the corporation in all courts of this state.

(b) The custodian may exercise all of the powers of the corporation, through or in place of its board of directors or officers, to the extent necessary to manage the affairs of the corporation in the best interests of its shareholders and creditors.

(4) The court during a receivership may redesignate the receiver a custodian, and during a custodianship may redesignate the custodian a receiver, if doing so is determined by the court to be in the best interests of the corporation and its shareholders and creditors.

(5) The court from time to time during the receivership or custodianship may order compensation paid and expense disbursements or reimbursements made to any receiver or custodian and his, her, or its counsel from the assets of the corporation or proceeds from the sale of the assets.

(6) The court has jurisdiction to appoint an ancillary receiver for the assets and business of a corporation. The ancillary receiver shall serve ancillary to a receiver located in any other state, whenever the court deems that circumstances exist requiring the appointment of such a receiver. The court may appoint such an ancillary receiver for a foreign corporation even though no receiver has been appointed elsewhere. Such receivership shall be converted into an ancillary receivership when an order entered by a court of competent jurisdiction in the other state provides for a receivership of the corporation.

History.—s. 133, ch. 89-154; s. 35, ch. 97-102; s. 191, ch. 2019-90; s. 52, ch. 2020-32.

Notes of Decisions

Cited in 9 cases, 1997–2018 · leading case: Mathes v. Mathes, 91 So. 3d 207 (Fla. 2d DCA 2012).

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Mathes v. Mathes, 91 So. 3d 207 (Fla. 2d DCA 2012). · cites it 2× “As a result, by the time the trial court entered • the final judgment, this divorce had transformed into something similar to a receivership pursuant to section 607.1432, Florida Statutes (2008).”

Phillips v. Greene, 994 So. 2d 371 (Fla. 3d DCA 2008). · cites it 3× “In contrast, Greene contends that Signs waived the notice requirement. Greene further contends that rule 1.”

Batur v. Signature Props. of Nw. Florida, Inc., 903 So. 2d 985 (Fla. 1st DCA 2005). · cites it 4× “Supplementing its initial order of appointment and conferring broad powers on the custodian, the trial court entered an order pursuant to section 607.1432, Florida Statutes (2002), that provided, 6 in pertinent part: 2) The Custodian shall take all actions he deems reasonably…”

van den Boom v. YLB Investments, Inc., 687 So. 2d 964 (Fla. 2d DCA 1997). · cites it 2× “The custodian was appointed pursuant to section 607.1432, Florida Statutes (1995), which does not mandate a bond but instead, provides that the circuit court “may” require the custodian to post a *966 bond.”

Granada Lakes Villas Condo. Ass'n v. Metro-Dade Investments Co., 125 So. 3d 756 (Fla. 2013). · cites it 2× “(2012) (authorizing the appointment of a receiver for a “residential habilitation center or a group home facility owned and operated by a corporation or partnership” under certain circumstances); § 607.1432, Fla. Stat. (2012) (authorizing the appointment of a receiver for the…”

Trans Healthcare, Inc. v. Creekmore, 137 So. 3d 1112 (Fla. 3d DCA 2014). “Third, the receiver could have invoked the statutory “ancillary receivership” provision available under the Florida Business Corporation Act, section 607.1432(6), Fla. Stat. (2009). None of these options required, and the receiver was not entitled to, “full faith and credit” as…”

Batur v. Signature Props. of Nw. Fla., 903 So. 2d 985 (Fla. 1st DCA 2005). · cites it 4× “Supplementing its initial order of appointment and conferring broad powers on the custodian, the trial court entered an order pursuant to section 607.1432, Florida Statutes (2002), that provided, [6] in pertinent part: 2) The Custodian shall take all actions he deems reasonably…”

Romay v. Caribevision Holdings, Inc., 147 So. 3d 125 (Fla. 3d DCA 2014). · cites it 2× “” Section 607.1432(6), Florida Statutes (2013), states: The court has jurisdiction to appoint an ancillary receiver for the assets and business of a corporation.”

Mary Virginia Graham v. Constance R. Uphold & Barmarrae Books, Inc., 245 So. 3d 964 (Fla. 1st DCA 2018). · cites it 2× “Similarly, the trial court relied on its authority under section 607.1432 to appoint the custodian.”

— 607.1432(1) — 1 case

Phillips v. Greene, 994 So. 2d 371 (Fla. 3d DCA 2008). “In contrast, Greene contends that Signs waived the notice requirement. Greene further contends that rule 1.”

— 607.1432(3)(b) — 2 cases

Batur v. Signature Props. of Nw. Florida, Inc., 903 So. 2d 985 (Fla. 1st DCA 2005). “Supplementing its initial order of appointment and conferring broad powers on the custodian, the trial court entered an order pursuant to section 607.1432, Florida Statutes (2002), that provided, 6 in pertinent part: 2) The Custodian shall take all actions he deems reasonably…”

Batur v. Signature Props. of Nw. Fla., 903 So. 2d 985 (Fla. 1st DCA 2005). “Supplementing its initial order of appointment and conferring broad powers on the custodian, the trial court entered an order pursuant to section 607.1432, Florida Statutes (2002), that provided, [6] in pertinent part: 2) The Custodian shall take all actions he deems reasonably…”

— 607.1432(6) — 2 cases

Romay v. Caribevision Holdings, Inc., 147 So. 3d 125 (Fla. 3d DCA 2014). “” Section 607.1432(6), Florida Statutes (2013), states: The court has jurisdiction to appoint an ancillary receiver for the assets and business of a corporation.”

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