Receiverships
A receiver is appointed by the holder of a fixed or floating debenture over the assets of a company with a view to realising the relevant assets and discharging the debt covered by the debenture. The Receiver must realise the assets and discharge the creditors in the order of priority set out in the companies acts.
A receiver may have the power to trade as a going concern or to close down the business depending on circumstances. Our insolvency services include:
- Advising the debenture holder on the best approach to secure a return on their loan/debt.
- Advising on the validity of the security.
- Acceptance of the appointment as Receiver or Receiver and manager, trading as a going concern and/or realising the assets, agreement of the creditor claims and the payment of preferential dividends to creditors where applicable and discharging the debt of the secured lender.
