Administrative Receivership
(not for Charges after 15th September 2003)
This process involves a secured creditor (normally a bank) who holds a Floating Charge over the company. The charge-holder can appoint a Licensed Insolvency Practitioner as an Administrative Receiver if the terms of the charge cannot be met.If the company has a secured creditor who wishes to use Administrative Receivership, we can review the business to assess whether Administrative Receivership is the most appropriate procedure. If appropriate, we will attempt to persuade the secured creditor that there is a better option.
If Administrative Receivership is the best way to proceed, we can be appointed Administrative Receiver, since we are on the approved panels of clearing banks and asset-based lenders (ABLs) whose support is necessary for these appointments – plus we have the experience and expertise to work with all parties concerned in achieving maximum realisations as part of a value-added process.
