Non Insolvency Business Advice
Non Insolvency Act Receiverships Information
Law of Property Act (LPA) Receiver
This is where a Receiver is appointed under the Law of Property Act 1925. It is a fixed charge appointment, generally covering the debtor’s property, to enable the Receiver to recover all monies due in respect of that property by way of a sale and collection of monies due.
Norman Cowan has been appointed by the Nationwide Building Society as an LPA Receiver over some its problematical properties.
Court Appointed Receiverships
In instances of deadlocked business partners, application is made to the court for the appointment of a receiver to take control of assets to which all parties have an interest.
The assets could include a company, a business, a tangible asset(s) or even intellectual property rights, for which purpose the Receiver will get in, hold funds or other property in accordance with Court directions. Norman Cowan has been appointed by the Court to act as a Receiver in such circumstances.
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