A Receiver is usually appointed by a creditor who is secured:cheap viagra buy
can you buy viagra in dubaiThe authority under which a Receiver is appointed is a Debenture, which sets out the terms on which monies have been advanced to the company, the security granted by the company for those advances, and the circumstances under which a Receiver may be appointed. These circumstances usually arise when the company has fallen into arrears of payments for interest or principal or some other event has triggered the power of the creditor to appoint a Receiver.
cheapest generic viagra cialisHis appointment removes the power of the directors of the company to deal with the charged assets – which may be virtually all of the assets. The Receiver’s powers and duties are set out in the Debenture but he acts primarily for the benefit of the secured creditor, to realise the assets charged and to remit the proceeds to the secured creditor. He may choose to trade the business for a while if doing so will enhance the realisations of the assets.
cheap viagra indiaWhen he has completed his duties, he will return any excess assets to the control of the directors. Receivership is not necessarily a terminal procedure, as the company may continue in existence unless liquidated, but in practice most Receiverships under a Floating Charge result in there being few assets remaining at the end of the process. Liquidation may follow, even if only to tidy up the affairs of the company.
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