Our national partnership has extensive experience in providing advice to lenders and acting as receiver and managers for major financial institutions and private secured lenders.
Our primary role when acting as receivers and managers is to provide a commercial service to the appointee by securing and realising the secured assets, providing informative and accurate reports to the secured lenders, and distributing funds to the secured lenders in the most cost effective and timely manner.
We take reasonable care to sell charged property for not less than its market value or, if there is no market value, the best price reasonably obtainable.
Receivership is a legal process where an external party is appointed to sell or safeguard the assets of a company or business
Receiverships are primarily instigated by secured lenders who’s primary focus is to recover sufficient funds to discharge their secured debts.
We have also been appointed as receivers by the courts in a number of matters where the courts have deemed it proper to appoint a receiver.
We appreciate that a receivership will not end until we have collected and sold all of the assets or enough assets to repay the secured lender, completed all receivership duties and paid receivership liabilities. Accordingly, it is our primary goal to ensure all required tasks are addressed with urgency and facilitate the finalisation of the engagement as soon as practicably possible.