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In law, receivership is a situation in which an institution or enterprise is held by a receiver – a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights" – especially in cases where a company cannot meet its financial obligations and is said to be insolvent. [1]
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 ...
In a receivership, the court appoints an independent “receiver” or trustee to oversee a troubled company’s business and is given great latitude to secure money owed creditors, including the ...
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.
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 ...
Corporate real estate is the real property held or used by a business enterprise or organization for its own operational purposes. A corporate real estate portfolio typically includes a corporate headquarters and a number of branch offices, and perhaps also various manufacturing and retail sites. [1]