OF INSOLVENT BUSINESS
executed on __________ (date), by ___________________________________
(receiver) of ___________________________________________________ (address),
here referred to as releasor, in favor of ________________________________
(name), of ___________________________________________________________
(address), here referred to as releasee.
to court order entered in the action entitled __________________________ v.
____________________________, Civil No. __________, in the _________________
(specify court), on _______________ (date), releasor is the court-appointed
receiver of ________________________________ (name of business).
consideration of _______________ (the sum of __________ Dollars ($__________),
receipt of which is hereby acknowledged or recite other consideration),
releasor, for _______________ (himself or herself) and ____________________
(his or her) heirs, executors and administrators) and for
________________________________ (name of insolvent business) releases and forever
discharges releasee, ____________________ (his or her) heirs, executors and
administrators), from all claims, demands and causes of action that releasor
may now have or that might subsequently accrue to releasor arising out of or
connected with, directly or indirectly, that certain contract dated __________,
entered into between ____________________________ (name of insolvent business)
release includes, but is not limited to, all claims and actions based on a
breach of such contract as set forth and alleged in a ________________
(complaint or petition or declaration) filed in the action entitled
_____________________________________ v _________________________, No.
__________, now pending in the ____________ (specify court), which __________
(complaint or petition or declaration) is hereby incorporated by reference into
this release for greater certainty.
this release, releasor is specifically releasing only that claim against
releasee (if applicable, add: and ______________ (his or her) heirs, executors
and administrators). Releasor expressly
reserves any claim, right or cause of action that releasor, on behalf of
__________ (himself or herself) or in ___________ (his or her) capacity as
receiver, jointly and severally, has against any individual, organization or
corporation other than the releasee named herein, and expressly reserves any
right to proceed against any other party.
release shall forever settle, adjust and discharge all claims of releasor, both
individually and as receiver of _____________________________________ (name of
insolvent business) against releasee, and the above-designated case shall be
dismissed with prejudice, each party to bear that party’s own costs.
witness whereof, releasor executes this release at ____________________
(designate place of execution) on __________ (date).