Receiverships & Appointments for Secured Creditors

Amendments to the Corporations Act in 1993 brought the actions of mortgagees in possession and their agents, as well as receivers, under the umbrella of the type of insolvency administration known as controllership.

A controller's function in normal circumstances is to take control of secured assets and to protect or realise these assets for the benefit of the secured creditor. Generally, a controller will be appointed by a secured creditor under the provisions of the charge or mortgage, but in some circumstances a controller may be appointed under Statute eg, pursuant to the Conveyancing Act or by the Court.

At Dean-Willcocks Insolvency Solutions, we act for major banks, other financial institutions and small lenders in securing their mortgaged assets and engaging in realisation strategies that maximises the returns to the secured lenders.

We are also appointed by the Court to both corporate and non-corporate business structures - in some instances to protect the assets and maintain the status quo and in other instances to act as defacto liquidators to realise and distribute the assets.

As with all of our insolvency administrations, we pride ourselves on our hands-on, professional approach and our objective is to seek the best solution.

Contact us to arrange our immediate FREE initial consultation.