Advertisement
Advertisement
Official Receiver
noun
an officer appointed by the Department of Trade and Industry to receive the income and manage the estate of a bankrupt pending the appointment of a trustee in bankruptcy See also receiver
Example Sentences
Energy Minister Michael Shanks said the official receiver was "assessing potential bids for the future of the refinery and its assets".
The Insolvency Service said affected employees would be supported via the redundancy payments service and the official receiver was prioritising "the ongoing process to secure the sale of the refinery".
The refinery was taken over by the government's official receiver in June after its owner, Prax Group, went into administration.
The company will now be placed in the hands of the Official Receiver and special managers from consultancy firm Teneo, which has been appointed to run it on behalf of the liquidator.
"We are supporting the Official Receiver so that they are prepared to take the necessary steps should the company enter into compulsory liquidation," a statement said.
Advertisement
Advertisement
Advertisement
Advertisement
Browse