​KembaraXtra- Financial Terms- administrative receiver refers to a receiver appointed by the holder of a floating charge over most or all of a company’s assets.


The administrative receiver has authority to manage, sell, or control the secured assets in order to recover money owed to the creditor holding the floating charge.


In some cases, the receiver may continue operating the company’s business temporarily while attempting to improve financial outcomes or maximize asset value.


The role became more restricted after legal reforms introduced in 2003. Holders of floating charges created after 15 September 2003 generally cannot appoint administrative receivers except in limited circumstances.


Instead, creditors holding such charges are now usually permitted to appoint an administrator without obtaining a court order, reflecting changes in insolvency law and corporate rescue procedures.