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The same firm may act as Trustee and Receiver, but often different firms are appointed to these roles. Receivership and bankruptcy are not mutually exclusive, they can occur at the same time or a receivership can occur without a company being bankrupt. The Receiver’s duties also include notifying creditors of the receivership and regular reporting to the Official Receiver (a representative of the Office of the Superintendent of Bankruptcy) and/or the Court on the status of the receivership. In a Receivership, a secured creditor or the Court may also appoint a Receiver-Manager to operate and manage the business until it is sold as a going concern. The Receiver is appointed to take possession of and sell or liquidate the assets secured by the security agreement in order to repay the outstanding debt. The powers and rights of Court Appointed Receivers are included in the Court order that appointed them. Court Appointed Receivers however, are officers of the Court and act on behalf of all creditors. Privately Appointed Receivers will generally only act on behalf of the secured creditor that appointed them and will realize on the assets specifically covered by the loan agreement. Only a Licensed Insolvency Trustee can act as a Receiver. Typically, the process begins with the appointment of a Receiver either by the secured creditor under a security agreement (“Privately Appointed Receivership”) or by the Court on behalf of a secured creditor (“Court Appointed Receivership”). A Receiver may also be appointed in a shareholder dispute to complete a project, liquidate assets or sell a business. America Uruguay Uzbekistan Venezuela Vietnam Zambia Zimbabwe eSwatini/SwazilandĪ Receivership is a remedy available to secured creditors to recover amounts outstanding under a secured loan in the event the company defaults on its loan payments. Rep.) Costa Rica Croatia Cyprus Czech Republic Côte d'Ivoire Denmark Dominican Republic Ecuador El Salvador Equatorial Guinea Estonia Finland France Gabon Georgia Germany Ghana Gibraltar Global Greece Guatemala Guinea Honduras Hong Kong SAR, China Hungary Iceland India Indonesia Interaméricas Ireland (Republic of) Isle of Man Israel ישראל Italy Jamaica Japan Kazakhstan Kenya Kosovo Laos Latvia Liberia Liechtenstein Lithuania Luxembourg Macedonia Madagascar Malawi Malaysia Maldives Malta Mauritius Middle East Region Middle East Bahrain Egypt Iraq Jordan Kuwait Lebanon Libya Oman Qatar Saudi Arabia United Arab Emirates West Bank Gaza Moldova Mongolia Montenegro Mozambique México Mexico Namibia Netherlands Netherlands Antilles New Caledonia New Zealand Nicaragua Nigeria Norway Pakistan Panama Papua New Guinea Paraguay Peru Philippines Poland Portugal Romania Rwanda Senegal Serbia Singapore Slovakia Slovenia South Africa South Korea Spain Sri Lanka Sweden Switzerland Taiwan 臺灣 Tanzania Thailand Trinidad and Tobago Turkey Türkiye Uganda Ukraine Україна United Kingdom UK United States US USA U.S. Afrique Francophone Albania Andorra Angola Argentina Armenia Australia Austria Azerbaijan Bahamas Barbados Belgium Belgique België Bermuda Bolivia Bosnia and Herzegovina Botswana Brasil British Virgin Islands Brunei Bulgaria Cambodia Cameroon Canada Cape Verde Caribbean Cayman Islands Central and Eastern Europe Chad Channel Islands Chile China Colombia Congo (Brazzaville) Congo (Dem.