2 edition of Official receivers found in the catalog.
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Official Receiver definition: an officer appointed by the Insolvency Service to receive the income and manage the | Meaning, pronunciation, translations and examples. 1 a person appointed by the court to receive the rents and profits of real property and to collect personal property affected by the proceedings and to do any act stated in the court's order. The object of the appointment is to protect the property until the rights of the parties have been ascertained. In such a case the receiver is an officer of the court and generally has to give security.
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On the making of a bankruptcy or winding-up order, the Official Receiver (OR) assumes control and protects the insolvent estate. The OR's primary function is to administer and investigate the affairs of bankrupts, companies and partnerships wound up by the court and the.
An officer of the Insolvency Service of the United Kingdom, an official receiver (OR) is an officer of the court to which they are attached. The OR is answerable to the courts for carrying out the courts' orders and for fulfilling their duties under law. Occasionally, the books and papers may be left in storage where, for example, an administrative receiver has placed them in storage and passed the storage contract to the official receiver on the winding up of the company.
The administrative receiver should then be asked to provide the official receiver with a schedule of the books and papers for the office case file. official receiver: Independent, impartial party appointed by a bankruptcy court as an interim receiver and manager of the property to which debt is charged.
He or she presides over the creditors' meetings in examination of the property in receivership and often, when winding-up order is issued by the court, serves as a provisional liquidator. Tailby v Official Receiver: HL Ma admin Off Equity, Insolvency, References: () 13 App Cas Coram: Lord MacNaghten Ratio: A creditor can create for good consideration an equitable charge over book debts which will attach to them as soon as they come into existence.
Lord Macnaghten: ‘It was admitted by the learned. The court may, at any time after the making of a winding-up order, make an order, that it thinks just, that the books and records of the company may be inspected by a creditor or contributory (but see paragraph regarding the official receiver’s discretion to provide.
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An official receiver manages at least the first stage of bankruptcies and companies wound up by a court. For example, they: collect and protect assets for creditors after someone’s been made. the Insolvency Service is an executive agency, sponsored by the Department for Business, Energy & Industrial Strategy.
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That, pursuant to sections (1)(d) of the Act, the Official Receiver not appoint Oscar Wald in respect of any new estates until a decision is made under subsection (5) or (1), or until such time as I am satisfied that the estates no longer require protection.
‘A spokesman for the receivers said that the business was still up for sale and that several interested parties had come forward.’ ‘A bankrupt used a £5, gift from his dad to pay off drug dealers without telling the official receiver, a court was told.’.
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official receiver definition: 1. a person who is ordered by the government to deal with the income and property of a company or a. Learn more. It put forward two major reforms. First, it put the receiver and manager on a statutory footing: a receiver appointed to all or substantially all of a company's property was now an administrative receiver and subject to some statutory responsibilities.
Upgrade to total confidence in your purchase. For a limited time, enjoy an extended day return period for purchases. Now through Ap with the fan-favorite AVR-XH AV receiver. Explore AVR-XH Explore AV Receivers. GET MORE OUT OF YOUR MUSIC Select models are now Roon Tested.Official Receiver: the official in the Insolvency Service and an Officer of Court who acts as interim receiver and manager of the estate of the debtor and presides at the first meeting of creditors.
In a company winding up he often becomes provisional liquidator when a winding-up order is made.Welcome to the NOOK eBookstore! Browse from Barnes & Noble's M eBooks to find your next read. Gift yourself or a loved one a NOOK book to download today.