Yes. Texas law allows the court to appoint a Receiver for the defendant before trial and before the judgment. It does not happen often, but if the court concludes that the defendant is actively transferring assets, hiding records, or mismanaging the company, or the company is failing fast, the court has authority to appoint a Receiver to take over the company, seize all premises, accounts and assets, and take all necessary steps to protect the company, keep it running, and preserve the assets, while the court works through the litigation to trial and judgment. The governing law is found in Chapter 11 of the Texas Business and Organizations Code.
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