CTM36185 | Particular topics: company winding up etc.: administrative receivership cases

An insolvency practitioner known as an administrative receiver could formerly be appointed under the Insolvency Act 1986 by a creditor who held security over the whole (or substantially the whole) of a company's assets (a floating charge). The administrative receiver was authorised to take custody of the assets held under the security, run the company's business, and dispose of the assets, both piecemeal or as part of a sale of the business as a going concern. Administrative receivership was largely abolished for all floating charges created on or after 15 September 2003 by IA86/S72A.