Receiverships enable charge holders to recover monies from companies where a loan under a debenture is in arrears or some other event has occurred to make the security enforceable (e.g. liquidation of a company). Receivers are usually appointed by a debenture holder but may be appointed by the High Court.
The Receiver takes control of the secured asset and realises same in order to discharge the debt to the secured creditor. In some instances the Receiver is appointed as a ‘Manager’ to continue trade of the business where the asset is secured to preserve value.
At MK Brazil we can: