Court Appointed Receiverships

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Who’d be interested in a Court Appointed Receiver?

You will be interested to seek the appointment of a Court Appointed Receiver if you are a debenture holder or mortgagee seeking to enforce or protect your security.

Or you can be a shareholder, an officer of the company. But there must be good reason for the Court to make the appointment and the court must be satisfied that there are no other adequate remedies available.

You could be a party with an interest in legal proceedings in connection with company property but not even necessarily with an interest in that property.

Situations which may suit a Court Appointed of a Receiver

  • The enforcement of security where there has been default
  • Where a floating charge has crystallised under the loan agreement
  • To protect property subject to a charge where it can be established that the properties in jeopardy but the charge cannot yet be enforced
  • To facilitate an orderly dissolution of a partnership where the former partners can not agree as to how to go about it
  • Where company property may for some other reason be in need of protection
  • Where a judgement creditor can establish that there are reasons why they may not be able to recover the monies at law.

How do you go about Court Appointments?

You will need to collect all related documentation and information and arrange to see your solicitor who will advice you whether they are of the view that receivership via a court appointment is the most appropriate course.

In the even you are advised by them that it is the most appropriate course they will proceed to implement the process.

Why include Clout & Associates in the process?

We are experienced insolvency specialists and are able to take on such complicated Receivership appointments.

With offices in Coffs Harbour and Kingscliff we operate in the area your security is located. So we can move quickly to take possession and do not cost in terms of travel time, which can cost you in therms of the repayments you would expect to receive from the assets.

To discuss your options click here for our contact details.

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Morgan James Chubb

Chartered Accountant Registered and Official Liquidator Registered Trustee 38 years in Insolvency... Read more

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