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A Receiver (or Receiver and Manager, Controller or Agent for the Mortgagee) is appointed to recover funds owing to a secured creditor (a bank or other financier). A Receiver can also be appointed by the Court in special circumstances.

A Receiver can either continue to trade-on the business or realise some or all of the company’s assets to repay the secured creditor depending on the nature of their appointment.

  • Appointment is actioned by the secured creditor pursuant to the provisions of its charge or mortgage document.
  • A secured creditor is able to recover their debt whereupon the Receiver would then typically retire (cease actions) from any further conduct on the matter.