Law of Property Act Receivership

Two of our Company's Directors, are recognised LPA Receivers for commercial property throughout the UK.

Both are members of the Non-Administrative Receivers Association (NARA), registered members of the Insolvency Practitioners Association and are ex-Property Bankers, having spent many years in senior lending positions with International and Merchant Banks

This experience, together with the support of our professional advisors enables us to understand all aspects of a transaction and the best solution for recovery. The provision of a "hands on" management approach to receivership situations has produced many quick results for our clients. We are of the opinion that larger firms tend to prolong appointments without achieving any significant enhancement in value or offering any professional advice on the long-term strategy for the property.

Our procedure in receivership situations is to constantly monitor the property and market conditions and to offer informed advice through regular reports. The enhancement of security value is, as previously mentioned, a major consideration. We therefore actively manage the property and seek to maximise income, formalise letting arrangements and restructure leases where necessary. The objective of such activities is always the recovery of debt, not a prolonged management role.

As a first step we undertake preliminary investigations of potential or existing problems and prepare a brief report and recommendation. In some cases we suggest our appointment as LPA Receivers, our fees and a note of likely additional expenditure are highlighted, and an outline proposal is included. However, in many cases, our initial fact-finding visit has been sufficient to gain a response from an otherwise uncooperative borrower, often leading to arrears being cleared.