There are times when the appointment of an LPA Receiver or Administrators can have positive benefits for both the lender and the borrower.
LPA Receivers present an extra – judicial mechanism for lenders to recover debt sometimes without the need for or cost of formal court proceedings.
Administrators and receivers, acting independently to the appointers, require specialist lawyers familiar with what processes to follow, the extent of their powers, and duties to safeguard and protect their interests.
When receivers or administrators step in, they assume their own responsibilities and duties which can impact the lender/ borrower relationship and present a different set of challenges from a legal perspective. Administrators and receivers also owe duties of care to the ultimate borrower, and anyone else with an interest in the equity of redemption.
We represent directly a number of leading insolvency practitioners, asset managers, and receivers in the field, providing advice in terms of best practice and assisting in the discharge of their legal duties.
