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 company바카라 사이트™s assets (a floating charge). The administrative receiver was authorised to take custody of the asets held under the security, run the company바카라 사이트™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 S72A of the 1986 Act.