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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Angela Swarbrick of Ernst & Young, who is running the administrative receivership, said: "Increasing global competition, particularly from the emerging markets, coupled with the faltering European automotive market, has resulted in volumes of trade falling away
The Liverpoolbased designer retailer failed after its bank refused to provide any more financial backing and founder-owner Robert Wade-Smith placed the business in administrative receivership.
Springwood Leisure was put into administrative receivership last month but continued to trade while offers arrived with receivers Ernst & Young.
A feature of the Act is a shift from the traditional administrative receivership, to a more radical and creditor orientated administration procedure.
This administrative receivership resulted from AMUK's failure to meet its financial obligations with its primary lender in a timely manner.
IDP) which was recently put into administrative receivership by the Tribunal de Commerce of Paris.
The agency, which went into administrative receivership earlier this month, was sold for an undisclosed sum to Aarco 251 Ltd, headed by Antur's financial consultant, Mold-based accountant Rhodri Hampson-Jones.
The deal follows Vortex going into administrative receivership last month.
Its fall into administrative receivership was blamed on a flood of cheap foreign imports.
A THOUSAND South Wales steelworkers faced the axe today after steel group ASW said it was going into administrative receivership.
Ivon Charles Roberts, aged 41, of Bardsley Court, Bagginswood, Kidderminster, was a director of System 4 of Rail House, Gresty Road, Crewe, which was placed into administrative receivership on July 18, 2002.
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