A company goes into receivership when a receiver is appointed by a secured creditor to take control of some or all of the company’s assets. In special circumstances a receiver may be appointed by the court.
A receiver is an independent and suitably qualified person. Their role is essentially to collect and sell enough of the charged assets to repay the debt owed to the secured creditor, pay out the money collected in the order required by law, and report any possible offences or irregularities to ASIC. The receiver’s primary duty is to the secured creditor that appointed them.
Where possible, we’re committed to ‘turning around’ businesses. If that’s not viable, we act swiftly to mitigate losses
We work with you to find the best possible solution for everyone involved.
As Registered Liquidators and Registered Trustees in Bankruptcy we have the expertise and authority to act.
You can count on us to remove uncertainty and provide expert commercial advice in a timely manner.