The term applied to the legal state of a company when a person is appointed as an administrative receiver over its assets.
The term applied when an insolvency practitioner is appointed as an administrative receiver.
The term applied when a person is appointed as an administrative receiver. Commonly abbreviated to receivership.
The process under which an insolvency practitioner is appointed receiver by a debenture holder to realise the company?s assets on its behalf. This process has become less common since September 2003 when the Enterprise Act 2002 came into force.
The process where an insolvency practitioner is appointed by a debenture holder (lender) to realise a company's assets and pay preferential creditors and the debenture holder's debt. The right of a debenture holder to appoint an administrative receiver has been restricted by the Enterprise Act 2002.
Administrative receivership is a procedure in common law countries whereby a creditor can enforce security against a company's assets in an effort to obtain repayment of the secured debt.
