The following Restructuring & Insolvency guidance note provides comprehensive and up to date legal information covering:
This Practice Note refers to:
the Insolvency Act 1986 as IA 1986
the Law of Property Act 1925 as LPA 1925
the Senior Courts Act 1981 as SCA 1981
the Enterprise Act 2002 as EnA 2002
the Proceeds of Crime Act 2002 as POCA 2002
the Drug Trafficking Act 1994 as DTA 1994, and
the Agricultural Credits Act 1928 as ACA 1928
Receivership is a particularly complex area as there are many different forms of receivership. This guide is a summary of the different types of receivership and their impact on legal proceedings from a dispute resolution perspective.
Receivership is a remedy whereby a receiver is appointed to protect an interest in assets. It is available for creditors and other third parties. There are several different types of receiver depending on the circumstances, which include:
administrative receivers—though these are rarer since legislative changes in 2003
LPA 1925 receivers
court-appointed receivers—there are several different types of court receiver including those appointed under:
Receivers' powers are usually limited to the appointment document, whether that be a vesting document or a court order.
Note: as a result of changes made by the EnA 2002, a holder of a floating charge created
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