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General information
Corporate voluntary arrangements (CVA) including CVA moratoria
In administration and administration orders - Cases beginning on or after 15 September 2003: In administration
Receivers
Voluntary liquidation
Compulsory liquidation
European cross-border insolvency proceedings
Frequently asked questions
Quality of documents
Further information


Receivers


1. What is a receiver?

Appointed by or on behalf of the holder of a floating charge, a receiver has the power to sell or otherwise realise the charged assets of the company in an attempt to repay the debt owed to the charge-holder.

2. Who tells the Registrar and Accountant in Bankruptcy (AIB) that a receiver has been appointed?

Within 7 days of the appointment, the person who appoints the receiver must deliver notice to the Registrar and AIB. When the receiver ceases to act, the holder of the floating charge must deliver notice to the Registrar and AIB within 14 days.

3. What document must the receiver send?

Within 3 months of his appointment, the receiver must deliver a report to AIB with copies to:

the company's creditors;
the holders of a floating charge; and
any trustees for secured creditors of the company.
The report must:

explain the circumstances leading to the appointment of the receiver;
give information about any action being taken by the receiver;
include a summary of the statement of affairs prepared for the receiver by the officers or employees of the company.
Statement of affairs Form 3.2 (Scot)

This is a summary of the company's assets, liabilities and creditors. The administrative receiver decides whether it is required and who should prepare it.

Within 2 months of the anniversary of appointment, the receiver must send AIB an account of receipts and payments covering the first 12 months of receivership and for every 12 months thereafter.

4. Which forms should be used?

The appropriate forms are:

Form title Number
Notice of the appointment of a receiver by a holder of a floating charge 1 (Scot)
Notice of the appointment of a receiver by a court 2 (Scot)
Notice of the receiver ceasing to act or of his removal 3 (Scot)
Receiver's abstract of receipts and payments 3.2 (Scot)
Notice of Authorisation to Dispose of Secured Property 3.4 (Scot)
Notice of receiver's report 3.5 (Scot)
Please note: These forms are not available from Companies House. They can be obtained from company law stationers or by visiting the Insolvency Service website.