What is a receiver manager?

Receiver Managers are professionals appointed by a court or secured creditors to take control of and manage a company's assets when the company is in financial distress, typically during insolvency or bankruptcy proceedings. Their primary role is to protect and realize the value of the assets for the benefit of creditors by selling assets, collecting debts, or running the business temporarily. Receiver Managers have legal authority to act on behalf of the company but are accountable to the appointing party and the court. Their actions are governed by insolvency and bankruptcy laws specific to their jurisdiction.