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Official Receiver
Practical Law UK Glossary 6-107-5794 (Approx. 5 pages)
Glossary
Official Receiver
On the making of a bankruptcy or winding-up order, the Official Receiver (OR) assumes control and protects the insolvent estate. The OR's primary function is to administer and investigate the affairs of bankrupts, companies and partnerships wound up by the court and the performance of other roles including:
- Appointment as interim receiver or provisional liquidator.
- Appointment as first trustee in bankruptcy of the insolvent estate immediately upon a bankruptcy order being made against an insolvent individual.
- Acting as first liquidator following a winding-up order being made against a company.
- Initial information gathering and dissemination.
- Investigating the conduct of bankrupts and directors, with a view to taking appropriate and timely action where there is evidence of wrongdoing under the Insolvency Act 1986, or unfit conduct by directors.
- Notifying creditors of the insolvency order.
There are various OR offices throughout England and Wales. Each OR is attached to a number of courts, for example the High Court in London, District Registries and to County Courts with insolvency jurisdiction. For further information, see the Insolvency Service website.