Receivership

If your company has given security to a lender and then defaults or otherwise breaches the terms of its borrowing, the lender may have the power to appoint a Receiver over the company’s property.

A Receiver may be appointed under a fixed charge over a specific asset (such as a property or the company’s sales ledger).

If the Company granted a floating charge to the lender before September 2003, the lender may have the ability to appoint an administrative Receiver with extensive powers over the company’s business and its assets generally.

If your company is experiencing difficulties and has given a mortgage or charge to a lender as security for a debt, contact us about the options available to the lender and what alternatives there may be for you.