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  • LPA Receiver

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    An LPA (Law of Property Act) Receiver is appointed by the holder of a fixed charge to deal with only the specific property assets that they hold a charge over. This is not an Insolvency process and thus is regulated by the Law of Property Act 1925. As a result, the appointee need not necessarily be a qualified Insolvency Practitioner.

    An LPA Receivers’ power is restricted purely to collecting in income over the charged property, and they are remunerated on the basis of 5% of realisations.

     

     

    Key facts:

    • Powers are set out in the security documentation.
    • There are no powers to enforce co-operation from 3rd parties.
    • There are no reporting duties so far as unsecured creditors are concerned.
    • There is no obligation to deal with employee claims (unless they are subsequently employed by the Receiver).

    How we can help:

    • We will arrange a free initial consultation with the instructing party.
    • Evaluate the Company’s financial position, provide details of all options available and make bespoke recommendations.
    • Explain the process in detail and the various options surrounding the appointment.
    • Answer any questions and concerns.
    • Assist in the preparation of all appointment documents.
    • Recommend and liaise with legal advisers and agents where necessary.