A fixed charge receivership is an efficient way for lenders to take control of single or multiple assets. It is usually a more simple and cost-effective process than administration and requires a fixed charge receiver to collect the asset.
A fixed charge receiver may be appointed by a lender with a mortgage, charge or other security over real property or other specified assets. The appointment is quick and fairly inexpensive.
The receiver will generally have broad powers to realise assets and, in respect of real property, collect rent. Unlike many other insolvency appointments, a fixed charge receiver need not be a licensed insolvency practitioner and specialist surveyors can be appointed.