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Definition
A receiver is appointed by a secured creditor to take possession of and sell the assets subject to its charge, applying the proceeds to that lender’s debt. A fixed-charge (or "LPA") receiver deals only with the charged asset.
In plain terms
Unlike an administrator, a receiver acts primarily for the appointing lender, focused on recovering that lender’s money from its security.
Why it matters for your company
Receivership usually follows a crystallised charge and default. Understanding which assets carry charges tells you what is at risk. See repossession.
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Repossession
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