Guidance

Appointing a Receiver/Receiver - Manager

A person can be appointed as receiver or receiver–manager of the company’s assets either pursuant to a court order or by a creditor on the basis of the powers contained in any document.

The receiver takes in his/her possession the company assets for which he/she has been appointed for and, he/she disposes of them with the ultimate purpose of discharging specific debts and not winding up the company. A person is appointed manager for the purpose of continuing the business and selling the company as an active economic entity. Usually, the same person is appointed as receiver and manager.

It is a basic prerequisite for the appointment of a receiver or receiver- manager that he/she is already registered in the register of insolvency practitioners.

The receiver/receiver - manager must submit to the Registrar, within seven (7) days from the date of court order or the date of his/her appointment, the notification of appointment of receiver/receiver - manager (form HE35). 

Filing of Notice

You may submit form HE35, by hand/post, accompanied by the Court Order for the appointment of a receiver/receiver - manager (only in the case of appointment by court) together with the fee of twenty euros (€20), paid in cash or by cheque or via an account maintained with the Department of the Registrar of Companies or via bank transfer. In the event that an accelerated procedure is required, an additional fee of twenty euros (€20) is paid.

You are advised to refer to the main criteria of review and most common reasons for rejection, so as to acquire a better understanding of what is required and to facilitate the process further.

Provided that the Registrar of Companies is satisfied that all, relevant to the circumstances, legal requirements have been met, he will proceed with registering the appointment of the receiver/receiver - manager and updating the companies register.

The appointed receiver/receiver - manager is obliged to keep the companies register updated, by filing:

• statement of company’s affairs;
• account of Receipts and Payments;
• notice of his/her cessation.