Corporate Receiverships
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Corporate Receiverships
A secured lender that wishes to realize the assets subject to its security to recover the secured loan can make the appointment of Receivers and Managers.
The appointment of Receivers and Managers can be made by a secured lender that wishes to realise the assets subject to its security to recover the secured loan.
A Receiver and Manager may be appointed even if there is an Administrator or Liquidator appointed to a company.
The role of the Receiver and Manager is to realise the business and assets for the benefit of the appointing secured creditor. Such an appointment does not extend to unsecured creditors whose interests are dealt with by an Administrator or Liquidator.
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An interested party (e.g. a partner of a partnership dispute, a minority shareholder, a party with equitable claim) may make an application to Court for the appointment of Receivers and Managers.
The Court will generally determine the powers and duties of the Receivers and Managers.
Contact us for appointments as Receivers and Managers. If you require a fixed quote, we are more than happy to provide you with one.
The following link includes a relevant publication by ASIC on receiverships: CLICK HERE
