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Receiverships can be broadly divided into two types: [citation needed] those related to insolvency or enforcement of a security interest; those where either: a person is incapable of managing their affairs and a court has appointed a receiver to manage the property on their behalf – for example, a receiver appointed by a court of protection under mental health legislation [3] [4] (in some ...
In other circumstances, a lender might appoint a receiver to try to recover unpaid debts. The receiver acts independently of both the lender and the debtor, working to pay off the debt while also ...
An OR has the following responsibilities: acting as interim receiver or provisional liquidator: At any time after a petition for an insolvency order under section 122 of the Insolvency Act 1986 (c. 45) has been presented, the court may appoint the OR as interim receiver (for an individual) or as provisional liquidator (for a company).
The court may appoint an official receiver, and one or more liquidators, and has general powers to enable rights and liabilities of claimants and contributories to be settled. Separate meetings of creditors and contributories may decide to nominate a person for the appointment of a liquidator and possibly of a supervisory liquidation committee.
Holders of a floating charge created prior to 15 September 2003 retain their right to appoint an administrative receiver, but all purported rights to do so created after that date will be construed as rights to appoint an administrator, subject to certain specific, rare exceptions.
Provisional liquidation is a process which exists as part of the corporate insolvency laws of a number of common law jurisdictions whereby after the lodging of a petition for the winding-up of a company by the court, but before the court hears and determines the petition, the court may appoint a liquidator on a "provisional" basis. [1]
With Trump projected to win, he'll be able to appoint judges, including any Supreme Court vacancy. Republicans are projected to regain control of the US Senate after winning seats in West Virginia ...
Receiver, a person who receives goods in a distribution center; Receiver, in receivership, a person appointed as a custodian of another entity's property by a court of law or a creditor of the owner, pending a lawsuit or bankruptcy; Metropolitan Police Receiver, formerly the chief financial officer of the London Metropolitan Police