CHAPTER 2A INTERIM RECEIVERS
This chapter provides information and guidance on interim receivers. An interim receiver is appointed prior to the making of a bankruptcy order, when a petition for bankruptcy has been presented to the court, accompanied by an application for the appointment of a interim receiver, and the court considers that the appointment is necessary for the protection of the debtor’s property.
Public Interest Unit (PIU) will only act in certain cases where the official receiver is appointed by the court as interim receiver (see Part 1, paragraph 2A.2). A local official receiver will be appointed where the case is not considered to have significant financial or reputational risk (see paragraph 2A.10). Alternatively, in the case of a proposal for a voluntary arrangement, an insolvency practitioner may be appointed as interim receiver.
(see paragraph 2A.3).
A local official receiver may also encounter interim receiverships when he/she is appointed receiver and manager or trustee of a bankrupt’s estate where an insolvency practitioner has previously acted as interim receiver (see Part 5).
The chapter is divided into 5 parts as follows:
Part 1 – Proceedings up to the making of an order for the appointment of an interim receiver (paragraphs 2A.2 to 2A.24)
Part 2 – Content of order, duties and functions of interim receiver (paragraphs 2A.25 to 2A.60)
Part 3 – Action following appointment of official receiver as interim receiver (paragraphs 2A.61 to 2A.105)
Part 4 – Deposits, indemnities and remuneration (paragraphs 2A.106 to 2A.124)
Part 5 – Bankruptcy petition hearings and termination of appointment (paragraphs 2A.125 to 2A.137)
The following abbreviations are used in this chapter;
BIS – Department of Business Innovation and Skills
CIB – Companies Investigation Branch
PIU – Public Interest Unit
[on to Part 1 – Proceedings up to making of order]