Business Terms and Jargon Explained

What is Official Receiver

A civil servant who works for the Department of trade and Industry and is appointed by the Court to act as:-
i) a liquidator when a company is being wound up;
ii) a trustee when an individual is made bankrupt. The duties of an official receiver will include examining the company/bankrupt's property which is available to pay the debts and distributing the money amongst the creditors.

Crown Copyright. Material taken from Her Majesty's Courts Service (HMCS) website . Reproduced under the terms and conditions of the Click-Use Licence.

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Term created / updated 2008-01-17 00:11:21

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