Short answer. Yes, that situation is expressly covered. The rule allows a receiver to be appointed after judgment to aid execution where the execution has been returned unsatisfied, or where the judgment obligor refuses to apply his property in satisfaction of the judgment.
What the law says
(c) After judgment, to preserve the property during the pendency of an appeal, or to dispose of it according to the judgment, or to aid execution when the execution has been returned unsatisfied or the judgment obligor refuses to apply his property in satisfaction of the judgment, or otherwise to carry the judgment into effect
Rule 59, Section 1 — Appointment of receiver. Read the full provision →
Receivership is not only a pre-judgment remedy
Receivers are usually discussed as a way of preserving property while a case is being fought. The rule is broader. One paragraph deals entirely with what happens after judgment, and it lists several distinct purposes: preserving property during the pendency of an appeal, disposing of it according to the judgment, aiding execution, and otherwise carrying the judgment into effect. A judgment creditor who has run out of road with the sheriff is not out of remedies.
The two triggers that fit your situation
Within that paragraph, two phrases describe precisely what you have described. The first is where the execution has been returned unsatisfied — the sheriff has tried and come back empty. The second is where the judgment obligor refuses to apply his property in satisfaction of the judgment, which covers the debtor who plainly has assets but will not part with them. Either is enough; you do not need both.
What a receiver adds that a sheriff cannot
The difference is between seizing a thing and administering it. A sheriff levies and sells. A receiver is appointed to take charge of property and manage it under the court's control, which is what makes the remedy useful where value is being produced or dissipated over time — a going business, rents, receivables. The closing words, otherwise to carry the judgment into effect, show the paragraph is meant to be read practically rather than narrowly.
Applying, and where
The application must be verified, and the court may require such other proof as it thinks fit. Ordinarily it is filed in the court where the action is pending. The rule also addresses the awkward case where an appeal is running: during the pendency of an appeal, the appellate court may allow the application to be filed in and decided by the court of origin, with the receiver appointed subject to that court's control.
What a receivership will not do for you
A receiver preserves and administers property; the appointment does not create assets where there are none, and it does not give you priority over other claimants by itself. It also carries cost, since a receiver must be compensated out of the property or the proceeds. Where the debtor genuinely has nothing, the remedy adds expense without result. The remedy earns its keep where there is identifiable value that is being consumed, concealed or mismanaged — which is why the verified application should show the court what that value is.