Receiver and Manager Appointments
Financial distress doesn’t have to mean the end of a business. A Receivership provides a structured way to protect valuable assets, manage creditor interests, and stabilise operations. While often associated with insolvency, a Receiver and Manager can also be appointed for breaches of a secured loan or mortgage, or under specific court orders.
At HM Advisory, our industry experience allows us to guide directors, creditors, and stakeholders through every stage of Receivership while prioritising practical outcomes over default liquidation.
What is receivership?
Receivership is a formal process where a secured creditor or the court appoints an independent professional — a Receiver and Manager — to take control of some or all of a company’s assets.
While insolvency is a common trigger, other events (such as ceasing to carry on business, failure to provide required financial information, or a court winding-up application) can also give rise to a Receivership.
Court-appointed Receivers and Managers are officers of the court, and their powers are defined by the court’s specific orders. In practice, most appointments grant extensive management powers, so the distinction between a Receiver and a Receiver & Manager has become less important.
- Receiver: Collects income from assets and may sell assets, but generally does not manage the business.
- Receiver & Manager: Collects income, manages and trades assets, and can buy or sell assets as necessary.
The role of a receiver and manager
A Receiver and Manager is entrusted with many responsibilities, including:
- Taking control of company assets and operations relevant to the secured creditor
- Collecting and safeguarding income, stock, and other valuable property
- Reporting to the appointing creditor
- Assessing options for recovery, sale, or restructuring
- Maintaining compliance with corporate and insolvency regulations
Unlike a Liquidator, a Receiver and Manager may continue to operate the business while determining the best way to preserve value for creditors.
The receivership process
While every appointment is unique, a high-level overview of the Receivership process typically includes:
- Appointing a Receiver by the secured creditor or court
- Immediate assessment of company assets, contracts, and operations
- Implementation of control measures to protect and stabilise assets
- Regular reporting to creditors on progress and financial outcomes
- Recommendations on next steps, which may include restructuring, sale, or realisation of assets
The HM Advisory approach
At HM Advisory, we see Receivership as an opportunity to steer a company through turbulence toward a stronger, more sustainable future. While many firms default to liquidation, our team explores every avenue to protect assets and uncover pathways to recovery.
To see how we could support your business through challenging times, contact us or explore our Corporate Insolvency solutions.
We are here to help
If a business you’re involved with may require our services, please feel free to contact us for an initial consultation – this is free of charge and without obligation.
Victoria
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Melbourne VIC 3000
PO Box 117
Collins Street West VIC 8007
T (03) 8866 7600
F (03) 9428 4152
Western Australia
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16 Victoria Avenue Perth WA 6000
PO Box 6243
East Perth WA 6892
T (08) 9334 7400
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Queensland
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Brisbane QLD 4000
PO Box 13127
George Street Brisbane QLD 4000
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New South Wales
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Sydney NSW 2000
PO Box Q904
Queen Victoria Building NSW 1230
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Frequently Asked Questions
What is the difference between receivership and liquidation?
Receivership focuses on protecting and managing specific assets for a secured creditor, whereas liquidation involves winding up the entire company and distributing all assets to creditors.
Who can appoint a receiver?
Receivers are usually appointed by a secured creditor under a charge or by the court in specific circumstances.
Can a business continue trading during receivership?
Yes, a Receiver and Manager may operate the business to preserve value, manage contracts, and maintain cash flow.
How long does receivership last?
The timeframe for Receivership depends on asset complexity, operational considerations, and recovery objectives. Some appointments are short-term; others may extend over months.
How can HM Advisory help?
Our team provides hands-on management, practical advice, and senior-led oversight. We aim to stabilise businesses, protect assets, and pursue restructuring-led outcomes wherever feasible.