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Administrative Receiver

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Administrative Receiver
In corporate bankruptcy, a custodian appointed by a court or regulator who is charged with the administration of all assets and debts. The administrative receiver's duty is to pay off as many debts as possible as cheaply as possible without liquidating the company. In general, this means the receiver restructures the company to put it on a path toward solvency. See also: Receivership.


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Zolfo Cooper confirmed their appointment and named Peter Saville, Stuart Mackellar and William Tacon as Joint Administrative Receivers of Rostock Investments Limited and St James Capital Hotels Limited.
Yesterday administrative receivers, the Kroll finance group, said the assets had been bought by Ruabon Sales Ltd - which has the same telephone number as Dennis Ruabon Sales Ltd.
Joint Administrative Receiver Joanne Wright said: "We appreciate that this is an extremely concerning time for the employees of Summit Precision Engineering.
 
 
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