An individual appointed by the holder of a floating charge over a company's assets, with powers to sell the secured assets or manage the company's business.
A charge is a legal interest in property or shares used to secure the payment of money owed, giving the chargee priority over unsecured creditors.
A floating charge is a security interest over a pool of changing assets of a business, which ‘floats’ until it crystallizes and attaches to specific assets of the company.
A receiver is an individual appointed to manage the property, assets, or business operations of an entity during bankruptcy or other legal proceedings. The specific powers and duties of a receiver can vary based on the type of receivership.
A secured creditor holds a financial interest, either through a fixed or floating charge, over the assets of a debtor, providing a level of security for the creditor's investment by granting the right to seize or sell these assets if the debtor defaults.
