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 process of administrative receivership is when an insolvency firm is appointed to control the whole or major part of a company's assets or property for the benefit of a creditor.
HIGH PERFORMANCE Vertu chief Robert Forrester snapped up a Midlands chain yesterday, the day it went into administrative receivership.
A statement from administrators Kroll said: "The company entered into administrative receivership following a sustained period of weak trading conditions which has resulted in cash-flow difficulties.
The firm, which as well as Cardiff had offices in London, Bristol, Birming- ham and China, was put into administrative receivership after cash-flow problems.
However, the firm went into administrative receivership in October after financial support was withdrawn by its banks.
Around 30 people who work at the Hibernia head office in York are also expected to lose their jobs, following the company's fall into administrative receivership in October 2003.
Community centre: residents are aware that Ballast went into administrative receivership with only five weeks of work left for completion of the centre.
ASW, which employs more than 1,000 people in Cardiff and 300 in Kent, announced on Wednesday it was to go into administrative receivership as it could not rely on continued support from banks.
Colour Film Limited carried on business as a manufacturer of decorative film for window panes from Flaval House, in Caldwell Road, Nuneaton, and went into administrative receivership on December 10, 1999.
Their fears were realised when Jazz Enterprises went into administrative receivership three months ago with debts of pounds 1.
The management of the 22 companies under Koza ypek Holding has been under administrative receivership since Oct.
It was also home to the pounds 5m Gaia Energy visitor centre, which went into administrative receivership in 2003, within three years of opening.
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