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What you need to know

Fixed Charge Receivership appointments are personal appointments with consequent personal liability on the part of the Receiver. A Receiver's actions will therefore be very considered and made on a commercial basis. Their primary duty is to the Lender, with additional duties to the Borrower. A full explanation of Fixed Charge Receivership is given in the following booklet.
Your Receiver will be concerned with the assets which have been charged to the Lender as security; the Receiver will act independently and in accordance with the applicable Law - both in regard to the process of receivership and as applicable to the asset.

Upon appointment the Receiver will take control of the asset. Under current legislation he will not usually be liable for any rating liability. The Receiver will seek to discharge the debt, taking into account all relevant and material factors, including market conditions and risk; decisions will be commercially focussed.

If you feel there are special and genuine circumstances that would influence such commercial decisions, then those facts should be communicated to the Receiver without delay.  Working in conjunction with the Receiver and providing such information and assistance as they might request will normally result in a better outcome and avoid unnecessary conflict.

Should you wish to make a complaint about the actions of a Fixed Charge Receiver, please refer to our complaints section, which sets out how Fixed Charge Regulations works and to whom your complaint should be made. Please note however, the Fixed Charge Receivership Scheme regulates only the Receiver and not the Lender.

If you wish to complain that the appointment should not have been made, then you should refer matters to the Lender and their complaints handling process, or the relevant Ombudsman.

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