Home Home
HOME COMPANY SOLUTIONS PERSONAL SOLUTIONS PROBATE
Licensed Insolvency Practitioners Personal & Business Recovery Experts

311 High Road, Loughton
Essex IG10 1AH

T: 020 8418 9333

F: 020 8418 9444

© Content ThorntonRones 2020

Privacy Policy   Equality & Diversity Policy

e: info@thorntonrones.co.uk

This is when a licensed insolvency practitioner takes control of the company.

The administrative receiver (sometimes abbreviated to receiver) decides whether to continue the business and attempt to achieve a going concern sale or shut it down.

Only the holder of a debenture can appoint, e.g. a bank. The receiver will realise the assets, specified in the debenture under which he was appointed, and will account to the debenture holder and preferential creditors for these funds after deducting his fees. Any balance of funds is returned to the company.

Directors can also ask for a receiver to be appointed, for instance to avoid the risk of wrongful trading.

Administrative Receivership is only available for limited companies, and not normal partnerships.

The receiver can carry on the company's business and sell the business and other assets comprised in the charge to repay the secured and preferential creditors.

Under the Enterprise Act (2002), the right of a debenture holder to appoint an Administrative Receiver was abolished for all debentures on or after 15 September 2003. This applied except in very specific circumstances related to Capital Markets, public/private partnerships, utility projects, finance projects, financial markets and registered social landlords.


ADMINISTRATIVE RECEIVERSHIP

Get help from the Experts NOW!

Trust ThorntonRones to use our skills and expertise and work with you to tailor a plan that is right for your company. Our advice is always objective and without obligation.

Call us now on 020 8418 9333 for a free consultation. Take a positive step towards changing your life. We're here to help you.