We have collated the most frequently asked questions in one place to help you find quick answers to important matters.
The role of a receiver revolves around three key areas
If your bank is planning to appoint a receiver it is likely that you have been unable to pay your debts on time. In this circumstance, the creditor is the bank that holds an interest in one of your non-circulating assets. This may include property, land, plant, or equipment.
The role of the receiver is to act on the behalf of the creditor (bank). It is important to protect your own interests and the best way to do so is by obtaining professional advice and representation.
Read more about Australian Debt Solvers receiverships services and how we can help.
A secured creditor is an entity that holds a secured interest in some or all company’s assets. This is usually in the form of a mortgage. Companies regularly obtain finance in the form of a loan and in the process provide company assets as a form of ‘security’. In this case, the financial institution that provided the loan is a secured creditor.
There are several key differences between the three and they are made clear in the roles carried out by each party.
Read more about the difference between receivership, administration, and liquidation.
If you haven't found the answers you are looking for, do not hesitate to reach out to us to receive free professional advice. We deal with a wide range of cases, including liquidation, insolvency, voluntary administration, and personal bankruptcy. Send us a direct message and we will be in touch with you within 1 hour.
Want to learn more about receivership or how to appoint a receiver and manager? Check out the Australian Debt Solvers Resource Centre featuring detailed information from industry professionals.
Want to learn more about the receivership process and legal requirements? Expand your knowledge and understanding by taking a closer look at real-life case studies.