Receiverships can arise in many contexts. Typically, they are commenced by a secured creditor seeking to enforce its security. A receiver may be appointed under contract, in which case the receiver’s mandate is prescribed by the underlying agreement. Often, however, a receiver is appointed by the Court on an application under the Bankruptcy and Insolvency Act, in which case the receiver’s mandate is prescribed by Court order. Normally, the receiver’s mandate includes selling the collateral – either piece-meal or as a going-concern business. We represent debtors, creditors and other stakeholders, helping them navigate the ins and outs of receiverships.
R. Graham Phoenix