The objective of receivership is to enable a bank or other secured lending institution to appoint an agent, known as a receiver, where there has been a default or breach in terms of lending.
The principal role of the receiver is to take control of and realise assets in order to discharge the debt due to the secured creditor.
The receiver’s powers are limited by terms set out in the original security documentation but generally provide for him to take charge and, where appropriate, continue to operate or trade a business in order to preserve the value of the assets.
RBK Corporate Recovery Partners, together with our nationwide teams, act in many large and testing receivership assignments across the property, construction, retail and manufacturing sectors throughout Ireland.
Our services include:
- Acting as Receiver, Receiver & Manager or Statutory Receiver
- Undertaking independent viability reviews of borrowers and/or creditors on behalf of secured lenders and potential stakeholders
- Proposing recovery strategies to maximise the return for secured lenders
For further information and to discuss your specific requirements, please contact a member of our team.