Insolvency, Bankruptcy and Restructuring Practitioners

Receiverships

ReceivershipA Receivership is an enforcement remedy used by lenders( usually banks) when a company breaches the terms of its borrowings. It is only available to creditors holding security, which includes a floating charge over all, or substantially all, of the assets of a company.

INSOL would accept an appointment as a Receiver:

  • Over all or part of the property of a company
  • In order to pay off debenture holders. Once this is achieved the Receiver requests his/her release from the Official Receiver.

We would also accept appointment as a Manager and manage the business until lender receives payment for his lending, but the Manager has personal liability for losses incurred by the company while acting as Manager. We would ensure regular, bespoke reporting, as would be expected, where the principal duty of care is to the Appointer (usually a bank).

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