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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The task of selling Mr Richards' fruit and vegetable retail chain has been handed to Cranfield Business Recovery, who are acting as administrative receivers for the business which employs around 100 staff.
The land at Crosland Hill forms the remainder of property owned by Foray 1088 Ltd, formerly Standard Holdings Ltd, and is being sold by joint administrative receivers Keith Hinds and Joe McLean, of Grant Thornton.
Deloitte have been appointed as Joint Administrative Receivers of Lincoln Group and its subsidiaries, Elland Way Limited, St James Way Limited and St James Side Limited.
David Bennett and David Dunckley from Grant Thornton, joint administrative receivers of the firm, said it was too early to confirm whether there is likely to be a distribution to the unsecured creditors, but prospects of a distribution "appear limited".
Ross Connock and Rob Lewis of PwC were appointed joint administrative receivers on May 20, 2011 and, with the support of employees, customers and suppliers, have continued to trade the business while a buyer was sought.
Last night joint administrative receivers for the hotel site said they were confident of a sale.
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.
Unfortunately, the joint administrative receivers had to make 16 of the 60 employees redundant.
requested the Group's bank to appoint administrative receivers to the trading
A cardiff nightclub has been sold by the administrative receivers of the First Leisure group to a management buy-out team.
Accordingly, no further purchase orders will be issued by the Joint Administrative Receivers in respect of these sites and any undertakings given by these sites will not be enforceable after this date.
Michael Horrocks,Russell Cash and Rob Hunt of accountants PriceWaterhouseCoopers were appointed joint administrative receivers yesterday.
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