A receivership is the result of an appointment by a secured creditor or the Court.
A receiver and manager can also continue to trade a business to facilitate a going concern sale to maximise realisations.
The team at Dye & Co. Pty Ltd provides receivership solutions to facilitate timely and efficient management of collecting and selling assets in order to repay debt owed to a secured creditor of a company.
What is the role of a receiver?
A receiver is appointed by a secured creditor of a company who holds security over some or all of a company’s assets.
The receiver is authorised to collect and sell company assets to repay the secured creditor. In some cases the receiver may pay any surplus funds to the company or the company administrator.
In addition, the receiver must inform ASIC of any irregular matters pertaining to the company that they may detect while carrying out their role.
Speak to a specialist today
Getting advice as early as possible can put you in a much better position and provide some peace of mind. Get in touch to discuss your situation.