October  2010

Part 1

Appointment of the official receiver as receiver and manager 

24.2 Appointment as receiver and manager

The official receiver becomes receiver and manager of a bankrupt’s estate on the making of a bankruptcy order pursuant to the Insolvency Act 1986 (see paragraph 24.6 for the position regarding orders under the Insolvent Partnerships Order 1994) [Note 1]. The official receiver is also appointed receiver and manager on the making of an insolvency administration order against a deceased debtor [Note 2]. The official receiver remains as receiver and manager until such time as the estate vests in a trustee.

24.3 Appointment as receiver only

The official receiver is only appointed as receiver of a bankrupt’s estate [Note 3] or of the estate of a deceased person [Note 4] where a special manager is appointed (see paragraph 32.4.1 to paragraph 32.4.36 inclusive).

24.4 Exceptions to the official receiver’s appointment as receiver and manager

On the making of a bankruptcy order the official receiver will not be appointed receiver and manager where the court appoints as trustee, 

1. the supervisor of an individual voluntary arrangement [Note 5] or,
2. an insolvency practitioner who submitted a report to court pursuant to section 274 of the Insolvency Act 1986.

24.5 Bankruptcy order

On receipt the official receiver should check the bankruptcy order carefully to see whether a trustee or special manager has been appointed by the court.

24.6 Insolvent Partnership Order 1994 – official receiver is trustee

Where a winding-up order and/or bankruptcy orders are made under the provisions of the Insolvent Partnerships Order 1994 [Note 6] the “responsible insolvency practitioner” [Note 7], invariably the official receiver, is appointed as liquidator and/or trustee of the estates (see Chapter 53, part 2)[Note 8].

24.7 Partners – the official receiver appointed trustee

The official receiver when appointed trustee on the making of a bankruptcy order under the provisions of the Insolvent Partnerships Order 1994 (see paragraph 24.5) is not subject to the restrictions imposed upon him/her by section 287 IA 1986  if appointed as receiver and manager (see paragraphs  24.12  and 24.14). In cases where a meeting of creditors is to be held, or a trustee is to be appointed by the Secretary of State, the official receiver should generally observe the spirit of section 287 leaving he realisation of assets, other than those which are perishable or likely to diminish in value, if not disposed of, to the trustee.

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