Commentary

173 Duties owed by the receiver to the company

BANKRUPTCY AND INSOLVENCY (CORPORATE INSOLVENCY) vol 3(3)
| Commentary

173 Duties owed by the receiver to the company

| Commentary

173 Duties owed by the receiver to the company

A receiver is appointed primarily to enforce the security of the debenture-holder who appointed him. As a result, his duties to the company are limited, even though he acts as its agent. He owes no duty of care at common law to the company, but he does owe duties in equity to the company, and to anyone else interested in the equity of redemption1. He owes no separate duty of care to ordinary creditors whose position is protected by the duty owed to the company. His duties are:

  1. 173.1

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