Receivership

Now almost entirely replaced by administration, receivers can still be appointed by secured lenders, such as banks, to recover debt due to them. Receivers usually wish to work with management to sell the business as a going concern and maximise the funds realised. Banks can now appoint administrators instead of receivers, but the administrators’ duties are to all creditors, not just the bank.

If you require any business recovery advice, information or assistance, please contact us.