Receivership is a remedy by which a trustee is legally appointed to act as the custodian of a company’s assets or business operations.

A Receiver is appointed either by the Court or by a creditor who has a legal charge over assets. The Receiver’s job is to collect, protect and receive property and collect income from property. The Receiver’s powers are limited to those set out in the Order or contract: it may be for the company’s whole business or specific assets only as defined in the contract.

We have acted as Receiver of numerous companies. When appointed by the Court, our role is usually to safeguard assets. Sometimes, this role is combined with an investigation of what has happened to the assets.

We have also been appointed as Receiver by debenture holders who have a charge over assets where our role is to realise the assets for the best possible price and distribute the realisations to the chargeholder.