• 2 Marks

BL – May 2012 – L1 – SB – Q2C – Company Law

State two powers of an Official Receiver appointed to manage a debtor's property.

An Official Receiver is usually appointed by the court to take over the management of the property of a debtor. You are required to state TWO powers of an Official Receiver.

  1. Investigation of Debtor’s Conduct: The Official Receiver has the power to investigate the conduct of the debtor and report to the court on any acts that may constitute an offence under the Bankruptcy Act. This includes examining the debtor’s financial affairs and transactions leading up to the bankruptcy.
  2. Management of the Debtor’s Assets: The Official Receiver can take control of and manage the assets of the debtor. This includes realizing the assets to pay creditors, as well as safeguarding the interests of the creditors during the bankruptcy proceedings.
Back to all questions
online
Knowsia AI Assistant

Conversations

Knowsia AI Assistant

Pick a Form

Professional Tutor Application Form
Academic Tutor Application Form
Student Tutor Application Form