The of end of Receivership - What Happens next?
An AdministrativeReceiver completes his duties when he repays his appointor either in whole or in part.
If there are any surplus monies following the repayment of the debenture holder that surplus must be handed over to a liquidator.
A liquidator is appointed by the general body of creditors unlike the receiver who was appointed by one person - the debenture holder.
That liquidator has a duty to review the actions of the receiver and the fees drawn by that receiver.
Company liquidations are addressed in detail at another section of this website.