Receivership

A Receiver is appointed over a company or asset by a lender to recover its indebtedness. This can be done with our without the cooperation of the borrower.

A Fixed Charge or LPA Receiver is typically appointed over a property asset to receive rental income and achieve a sale.  An Administrative Receiver is appointed over a company by a debenture holder (normally a Bank) who has a debenture which pre-dates 15 September 2003.  An Administrative Receiver can trade a business in a similar way to an Administrator with the objective of selling some or all of the business or affecting an orderly wind down.  If there are any funds left after the debenture holder has been paid the company may be placed into Liquidation.