Administrative receivership and other insolvency related matters require experienced and skilful legal representation. Simply.Law empowers you to find the specialist who is right for you and your circumstances. Try our free receivership insolvency lawyer Match Service today.
Understanding administrative receivership
If a creditor such as a bank or lender has legitimate questions regarding a company’s capacity to repay its debt, it may begin a process known as administrative receivership.
During this process, administrative receivers are appointed in order to try to sell the debtor company’s assets in order to satisfy the creditor.
The process is distinct from the more common process of administration and can only be initiated when the security – in the majority of cases this will take the form of a debenture – was granted prior to the 15th September 2003.
What is a debenture?
Under the terms of a debenture, a lender obtains fixed and floating charges over a debtor company’s assets and undertakings. Debentures are effective because they provide lenders with considerable confidence that sums will be repaid.
Facing administrative receivership?
Early stage legal advice from experienced insolvency lawyers is essential in avoiding the process of administrative receivership. If you have breached the terms of your agreement and are aware that your secured creditor is considering the appointment of receivers, you should secure prompt legal advice.
Types of receivers and their powers
Receivers can be appointed by a court or by a charge-holder who is eligible under the terms of the Law of property Act 1925. Types of receiver include the following:
- Fixed charge receivers
- Law of Property Act receivers
- Court appointed receivers
- Agricultural receivers
Simply.Law’s business insolvency solicitors
Understanding of cashflow, liabilities and legal obligations is critical to the ongoing viability and success of a business. Simply.Law’s insolvency solicitors specialising in receivership bring you confidence and clarity by offering clear and concise legal advice to help you meet your objectives.
Find the administrative receivership specialist who is right for you by using our Match Service, browsing our member profiles or talking with an advisor today.
