(a) General. The administration of estates by receivers or other officers shall be similar to that in bankruptcy cases except that the court in its discretion shall—
(1) fix the allowance of compensation of receivers or similar officers, their counsel, and any others appointed to aid in the administration of the estate, and
(2) direct the manner in which the estate shall be administered, including the conduct of its business, the discovery and acquirement of its assets, and the formation of reorganization plans.
(b) Reports by Receiver. Unless otherwise ordered, a receiver, or other similar officer appointed by this Court, shall as soon as practicable after appointment, but in any event not later than 21 days thereafter, file an inventory of all property, real, personal or mixed, of which the receiver has taken possession or control, together with a list of the then known liabilities of the estate and a report explaining such inventory.
Thereafter and until discharged, the receiver shall file a current report every four months, unless the court fixes some other filing interval. The current report and account shall list the receipts and disbursements and summarize the activities of the receiver.
Amended November 19, 2009