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Receivership
Oversee assets and operations to repay debts.
Receivership is a targeted process that allows secured creditors to recover outstanding debts by appointing a receiver to take control of specific company assets. The receiver’s goal is to manage and sell these assets to repay debts, often while keeping the business operational, maximising value, and preserving jobs.
Companies typically enter receivership when they default on secured debts, such as a loan. This step gives secured creditors the authority to recover their funds while providing directors and stakeholders with a structured path to address financial challenges. Receivership may be a preferable alternative to other insolvency procedures, as it can keep key parts of the business running, retain employee positions, and ultimately benefit both creditors and stakeholders.
At TTJ Advisory, we understand the pressures directors face, particularly when grappling with tax debts and insolvency.
How TTJ Advisory Supports You Through Receivership
Expert Asset Management
We take control of secured assets, evaluating their value and determining the most effective strategy to recover debts, whether through individual sales or broader business operations.
Strategic Business Continuity
Where feasible, we ensure the business continues trading during receivership, preserving jobs and enhancing asset value for a smoother transition and better financial outcomes.
Tailored Recovery Solutions
Receivership isn’t one-size-fits-all. We develop customised strategies to address the unique challenges your company faces, maximising returns while mitigating risks.
Transparent Stakeholder Engagement
Clear and consistent communication is vital. We provide regular updates to directors, creditors, and employees, ensuring everyone stays informed and aligned throughout the process.
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Frequently Asked Questions
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The Receivership Process: 5 Key Steps
01
Receiver Appointment
A secured creditor appoints an independent receiver to take control of the company’s assets following a debt default.
02
Evaluation and Strategy
The receiver assesses the company’s financial situation, deciding the best approach to manage or sell assets, including whether continuing business operations could add value.
Asset Management and Operations
The receiver controls secured assets and may keep the business trading temporarily to enhance asset value and facilitate a smoother sale.
03
04
Asset Sale and Debt Repayment
Assets are sold to repay the secured creditor, either through individual asset sales or a complete business sale.
05
Reporting and Conclusion
The receiver provides regular updates to all stakeholders. Once debts are repaid, the receivership ends, with the company either returning to directors, entering administration, or moving to liquidation if necessary.
