State, Missouri Department of Social Services, Division of Aging v. Cedars Nursing Center, Inc.

PAUL M. SPINDEN, Judge.

When the Department of Social Services became aware that the licensed operator of Cedars Nursing Center, Inc., had not paid its payroll obligations for July 1998, it obtained an order from the circuit court placing Cedars in receivership. On July 31, 1998, the circuit court appointed Cedars Health Care Centre, Ltd., as receiver pursuant to the Omnibus Nursing Home Act, § 198.003 et seq., RSMo 1994. The receiver desired to use Cedars’ accounts receivable to pay the missed payroll, but Cedars had pledged its accounts receivable as collateral for a loan from Healthcare *805Fina…