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Receivership
Administrative receivership is a procedure in common law countries whereby a creditor can enforce security against a company's assets in an effort to obtain repayment of the secured debt. It used to be the most popular method of enforcement by secured creditors, but recent legislative reform in many jurisdictions has reduced its significance considerably in certain countries.[1]
Administrative receivership differs from simple receivership in that an administrative receiver is appointed over all of the assets and undertaking of the company. This means that an administrative receiver can normally only be appointed by the holder of a floating charge. Because of this unusual role, insolvency legislation usually grants wider powers to administrative receivers, but also controls the exercise of those powers to try and mitigate potential prejudice to unsecured creditors.
Characteristically an administrative receiver will be an accountant with considerable experience of insolvency matters.
The Swedes Didn't Use Receivership
Paul Krugman has been pushing the Swedish model hard, so it's more than a little troubling that to discover that he doesn't understand what Sweden actually did:I was not saying ?nationalize all the banks?; I was saying do what the Swedes did ? in tandem with a guarantee on bank liabilities, take the banks with zero or negative capital into receivership...
Another Indiana Receivership Case
Good-bye, Today's Bedroom One, The Mattress Gallery and Today's Kids. But what I find most interesting in The Indianapolis Business Journal's Local bedroom retailer to be liquidated is the use of a receivership instead of bankruptcy...
Should California Be Placed in Political Receivership?
A thought inspired by a story in today's L.A. Times in which the state legislature's chief budget analyst said California would be bankrupt with a $23 billion deficit by summer...
Another Receivership Case in The News
Not much news but Foreclosed tower goes up for sale shows that receivership are not dead in Indiana:The property at 3801 N...
Lew Freeman's Business Placed In Receivership
Wow, Jordana Mishory reports this shocker:In a stunning collapse, South Florida attorney and receiver Lewis Freeman went to court today to put his firm out of business and liquidate amid a federal investigation trying to trace $3...
Obama: Why We Don't Want To Put Insolvent Banks Into Receivership
Via Matt Yglesias, President Obama answers a whole bunch of people [T]here have been some who don’t dispute that we need to shore up the banking system, but suggest that we have been too timid in how we go about it...
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