485. Express powers of receiver.

A receiver appointed otherwise than under statute has only the powers conferred on him by his appointment, and, unless specially empowered to do so, may not sue or exercise commercial rent arrears recovery in the name of the person so entitled, that is either the mortgagor or mortgagee according to the circumstances1. A receiver appointed by debenture holders who, under the terms of the debentures, is entitled to take possession will be put into possession by the court as against the liquidator, even though if the court were asked to appoint a receiver it would appoint the liquidator

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