Interim receiver | Practical Law

Interim receiver | Practical Law

Interim receiver

Interim receiver

Practical Law UK Glossary 4-107-6290 (Approx. 3 pages)

Glossary

Interim receiver

At any time after the presentation of a creditor's bankruptcy petition, and before the making of a bankruptcy order, the court may appoint the Official Receiver or an insolvency practitioner as interim receiver (under section 286 of the Insolvency Act 1986) if it is shown to be necessary to protect the debtor’s property.
Following their appointment, an interim receiver usually takes possession of the debtor's assets (including those which may not constitute the insolvent estate).
Like a provisional liquidator in a corporate insolvency context, the role of an interim receiver is primarily to protect the debtor’s insolvent estate ahead of the hearing of the bankruptcy petition.