Business

What an Official Receiver Can Do in a Meeting with Creditors

An official receiver can work with a meeting between the receiver and the creditors that an insolvent party owes money to. In most cases the official receiver will work directly with the creditors to discuss what is owed. However, an insolvency practitioner can be hired by an official receiver office for the meeting. The insolvency practitioner will work as the liquidator in this case.

In some cases the official receiver office may work with the Secretary of State to get an insolvency practitioner. This is something that works primarily in cases when an urgent need to get a meeting handled is present.

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