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.
References in periodicals archive ?
Adrian Berry, Joint Administrative Receiver at Deloittes said: "The hotels have, to varying degrees, been affected by the poor market conditions of recent times, and have good underlying businesses in central locations, making them an attractive opportunity for prospective purchasers.
Ross Connock, joint administrative receiver and director at PwC said: "We are pleased to have secured a sale of the business to Gerald D Harries &Sons that protects 66 jobs in West Wales and secures value for the creditors of F.
The administrative receiver of Buczek Automotive was also reluctant to discuss the case, but when pressed about the firm's future, he conceded: "It doesn't have a future.
Joint Administrative Receiver Joanne Wright said: "We appreciate that this is an extremely concerning time for the employees of Summit Precision Engineering.
Shortly after the appointment of Price Waterhouse Coopers as administrative receiver the warehouse management systems division was sold to Anisa UK, and its shipping and logistics division was sold to Nottingham-based Four Soft UK, involving the switch of all the UK staff and most 126 overseas employees in India, Singapore and America to the new owners.
AnswerCall Direct, which operates out of Armagh, has called in PricewaterhouseCoopers (PwC) as joint administrative receiver after hitting problems following the loss of contracts.
Situated in east Glasgow, the company, which employs 230 workers, has been operating under joint administrative receiver Iain Bennet from PricewaterhouseCoopers.
Joint administrative receiver Michael Horrocks said: "We will be holding talks with suppliers and customers over the next few days to seek their support to allow trading to continue while a purchaser is sought.
Nobuyuki Hirabayashi, former chairman of Tsuneishi, will serve as an administrative receiver, the company said.
Joint administrative receiver Andrew Andronikou issued a statement to the creditors.
Normally, the administrative receiver has all the powers he needs to decide whether to continue to trade the company and attempt to achieve a going concern sale.
Pivotal Games Limited was placed into administrative receivership on 5 September 2003 following the appointment of an administrative receiver.
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