Receivership occurs when a secured creditor (financier) appoints a Receiver, Receiver and Manager or Controller to a company or asset to realise the asset/s of the company to repay the secured creditor’s debt.

The appointment is made pursuant to the secured creditor’s security documentation.

The Receiver’s role is to:

  • collect and sell enough of the charged assets to repay the debt owed to the secured creditor (this may include selling assets or the company’s business)
  • pay out the money collected in the order required by law, and
  • report to ASIC any possible offences or other irregular matters they come across.

For detailed information on Receivership Click Here.

The team at Rapsey Griffiths have extensive experience in all forms of secured creditor enforcement. Contact the team at Rapsey Griffiths for a confidential consultation.

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