Receivership

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Receivership

The receivership or the administration of the property of others is a procedure whereby the agent can enforce security of a creditor against a company's assets in an effort to obtain repayment of the secured debt. Under the Romanian law, in case of failure to fulfill the secured obligation, the secured creditor is entitled to take possession of the debtors' assets for administration purposes.

We can help the secured creditor by taking over the mandate of agent or administrator of the assets based on an administration contract. The assets to be administrated could be one or more goods or a patrimony.

Under a full administration regime, we preserve and profitably utilize the assets, in order to increase the value of the assets and to secure the beneficiary's interest in the patrimony.

We are allowed to perform any acts considered useful including sale purchase agreements and to make any investments required. The main aim is to maximize the value recovered by the secured creditor.