An Administrative Receiver is called in by a bank or other creditor who has a charge over all or most of the assets of a company's assets. The charge must predate 15th September 2003 for this procedure to apply. Alternatively a Receiver may be appointed under the Law of Property Act 1925 over specific property held by the company.
A receiver’s role is to act in the best interests of the holder of the charge. This differs from an Administrator who owes a duty to act in the interests of all the company's creditors.
- DISQUALIFICATION OF DIRECTORS
- RESERVATION OF TITLE
- IMPLICATIONS FOR LANDLORDS - TENANT INSOLVENCY
- CORPORATE RESCUE & RECOVERY
- PERSONAL INSOLVENCY
- BUSINESS SALES/PURCHASES FROM INSOLVENCY PRACTITIONERS
- TRUST/PROPERTY ISSUES ARISING FROM INSOLVENCY
- INVESTIGATIONS/RECOVERIES FOR CREDITORS
- TRADING A COMPANY WHILST INSOLVENT
- DEBT RELIEF ORDERS
This case is of particular significance for both Insolvency Practitioners and creditors alike as it shows a gr...
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