Corporate
Receiverships
Appointment of a Receiver Manager, pursuant to floating charge security.
What does this entail?
A secured creditor, pursuant to the provisions of a floating charge, may appoint a Receiver Manager (RM) to take control of the assets and undertaking caught by the terms of the floating charge. The RM’s primary obligation and duty of care is to efficiently manage and maximise the realisation of the charged assets, to the benefit of the appointor. The RM owes no duty of care to the ordinary unsecured creditors, but he does owe such a duty to the guarantor(s).
Receivership may coexist with liquidation with the RM being in absolute control of a company’s charged assets, with the Liquidator however, enjoying substantial statutory powers.
Get in Touch
Chris Iacovides
Chief Executive Officer
Andri Antoniou
Director - Licensed Insolvency Practitioner
Marios Kofteros
Director - Licensed Insolvency Practitioner
When is it appropriate?
Floating charge receiverships are appropriate where a borrower has defaulted under the terms of a facility secured by floating charge(s) and the secured creditor wishes to enforce its security. This route is commonly used where assets have standalone value and where recovery can be achieved without placing the entire company into liquidation.
It may also be appropriate where immediate and drastic action is required in order to protect asset value or prevent deterioration.
How we can help
Our licensed IPs can be appointed as RMs and assist secure creditors in maximising realisation of their security, in a professional and efficient manner.
Next steps
Contact us to discuss receivership appointments or enforcement strategies.
Key Benefits
Focused recovery for secured creditors
- Controlled asset management
- Efficient enforcement of security
- Transparent realisation process
- Compliance with legal obligations
Experienced, Trusted Advisers
Our services are delivered by experienced, qualified professionals who follow a structured and transparent process, from initial assessment through to implementation. We combine technical expertise with a practical approach to ensure each engagement is managed professionally and focused on achieving appropriate outcomes for all stakeholders.