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Administrative receivership is a procedure in the United Kingdom [note 1] and certain other common law jurisdictions whereby a creditor can enforce security against a company's assets in an effort to obtain repayment of the secured debt.
In voluntary administrative receivership, the administrator is appointed by the company directors. In involuntary administrative receivership, the administrator is appointed by a judicial court. The legal terms for these processes vary from country to country, and the processes may overlap.
A receivership is a court order to restructure debt, placing control of the company under a receivership. The principals of the company will stay in place and retain their titles, but likely will ...
Liquidation may either be compulsory (sometimes referred to as a creditors' liquidation or receivership following bankruptcy, which may result in the court creating a "liquidation trust"; or sometimes a court can mandate the appointment of a liquidator e.g. wind-up order in Australia) or voluntary (sometimes referred to as a shareholders ...
Since the introduction of the collective insolvency procedure of Administration in 1986, the legislators have decided to set a shelf life on the administrative receivership or, in Scotland, receivership procedure and it is no longer possible to appoint an administrative receiver or, in Scotland, receiver under security created after 15 ...
An officer of the Insolvency Service of the United Kingdom, an official receiver (OR) is an officer of the court to which they are attached.The OR is answerable to the courts for carrying out the courts' orders and for fulfilling their duties under law.
The Receivership Transition Advisory Board had to review and rule on all financial matters approved by the city council and mayor. In June 2018, an Administrative Hearings Bureau, or Blight Hearings Bureau, was started through a grant to handle blight hearings generated from blight citations given by the city's Blight Elimination Division.
In finance, a floating charge is a security interest over a fund of changing assets of a company or other legal person.Unlike a fixed charge, which is created over ascertained and definite property, a floating charge is created over property of an ambulatory and shifting nature, such as receivables and stock.