A Receivership is a solution available to secured creditors to recover outstanding loans in the event a company defaults on its loan payments. A Receiver may also be appointed in a shareholder dispute to complete a project, liquidate assets or sell a business.
In a Receivership, a secured creditor or the Court may appoint a Receiver-Manager to manage the business until it is sold. Receivership and bankruptcy are not mutually exclusive, and can occur either simultaneously or at separate times.
Find out more about receiverships by contacting us to discuss this and other corporate debt solutions.
Thanks for your help and in making a very uncomfortable situation comfortable!Reg A.