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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 ...
the company is neither in liquidation nor has a provisional liquidator been appointed, and; neither an administrator nor an administrative receiver is already in office. Subsequent to the appointment of an administrator under a qualifying floating charge, the holder of the floating charge must notify the court of the appointment.
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.
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). This is to protect a debtor's property, or take ...
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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]
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