The following Restructuring & Insolvency guidance note Produced in partnership with John Hughes of Shakespeare Martineau LLP provides comprehensive and up to date legal information covering:
This Practice Note covers receivers who are appointed by the court, including the circumstances in which a court will appoint a receiver and who may be appointed by the court.
This does not cover LPA receivers appointed by a lender pursuant to a power contained in a charge. For more information on these LPA receiverships see Practice Notes: Procedure relating to appointment of LPA or fixed charge receiver(s) and Effect of appointment of LPA or fixed charge receiver on property.
The Senior Courts Act 1981 (SCA 1981) contains the power of the High Court to appoint a receiver.
The High Court may by order (interlocutory or final) grant an injunction or appoint a receiver in all cases in which it appears to the court to be just and convenient to do so.
Any such order may be made either unconditionally or on terms and conditions as the court thinks just.
The power of the High Court to appoint a receiver by way of equitable execution shall operate in relation to all legal estates and interests in land.
The power may be exercised in relation to any estate or interest in land whether or not a charge has been imposed on it pursuant to the Charging Orders Act 1979 for the purpose of enforcing a judgment, order or award in question.
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