Fixed Charge Receivership
A Fixed Charge Receivership ("FCR") can be used by lenders to take control of the asset(s) over which they have a charge. It is usually a more simple and cost-effective process than administration and requires a fixed charge receiver to collect the asset.
A fixed charge receiver may be appointed by a lender with a mortgage, charge or other security over real property or other specified assets. The appointment is quick and fairly inexpensive.
The receiver's powers include powers to realise assets and, in respect of real property, collect rent.
If you are a lender and feel this procedure may suit your needs please do not hesitate to contact us.