As licensed Insolvency Practitioners we can negotiate on your behalf if a receiver is appointed.
Receivership is not always the best option for all parties and we can advise you and negotiate an alternative with your creditors.
Administrative receivership
A secured creditor (normally a bank) may hold a floating charge over your company and assets. If you cannot meet its terms, the charge-holder can appoint a licensed Insolvency Practitioner as an administrative receiver to recover the money it is owed (but not for charges after 15 September 2003).
If a secured creditor is threatening to use administrative receivership on your business, we can review your business, assess whether this is appropriate and negotiate on your behalf with the secured creditor to persuade them that there is an alternative route.
Fixed charge receivership
If a secured creditor (usually a bank) holds a fixed charge over your company’s assets, the creditor can appoint a fixed charge receiver. If the charge is held over property such as land and buildings, the receiver is referred to as an LPA Receiver.
At Frost Group, we can rapidly review those assets and advise whether this is your best option. If it is, we can take on this role and use our experience to get you the best result.
Court appointed receivership
Courts can appoint a receiver to execute a judgment or protect property that is subject to a dispute. The receiver’s powers and duties must comply with the order of the court. Note that a court-appointed receiver is an officer of the court, not an agent of the company or a creditor. He will be personally liable on contracts entered into.
At Frost Group, we can act as court-appointed receivers. We have experience in dispute resolution, litigation and maximising asset realisation to achieve the best result for all parties.
