The
"Receiverships Under Charge" Solution
Who would be
interested in Receiverships?
What a Receiver can do for you
What you
should do if you find you need a Receiver
Why use Clout & Associates?
Who
would be interested in Receiverships?
You would be a creditor holding a fixed and floating charge as security
over the assets and / or undertaking of a company.
The charge will have been validly registered with ASIC under the
Corporations Act and has been in existence at least 6 months. Usually
the terms of the loan by the Debtor will have been breached by the
Debtor and you are not being repaid the monies you are due and
communication between you and the Debtor has broken down.
There must have been default under the terms and conditions of the
charge.
What
a Receiver can do for you
The Receiver takes possession of and secure the assets subject to your
charge. The Receiver makes a commercial assessment as to the best way of
realising these assets to ensure your debt is repaid and the interests
of all stakeholders are protected as much as possible in the
circumstances.
The Receiver then conducts the sale whilst maintaining security of the
assets.
What
you should do if you find you need a Receiver
You should collect yo all your correspondence with the Debtor as well as
the loan documentation and the charge.
You should see your solicitor who will ensure that there has been
default and if not construct a default for you usually by serving an
appropriate demand for repayment of the monies you are owed.
Your solicitor will them approach an appropriately qualified insolvency
practitioner to see if they will consent to such an appointment.
Why
Clout & Associates?
We are in the area where the assets exist. As a result we can move
quickly and inexpensively to take possession. Where it is necessary to
trade on a business for sale, we are there so the costs of controlling
the sale are reduced.
We operate in the region where the assets need to be sold so we know
what it takes to sell the business and whether a sale as a going concern
is an option.
We have been in the game for decades and we know the ropes.
To discuss your options click here for our contact details.
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