Official Receiver

The Official Receiver is a government-appointed official responsible for managing cases of bankruptcy and insolvency. When an individual or company cannot pay their debts, the Official Receiver steps in to oversee the financial affairs, ensuring debts are settled fairly while protecting the rights of creditors. They may investigate the financial situation, sell assets to pay off debts, and ensure legal compliance during the process. Essentially, the Official Receiver acts as a neutral party to help resolve serious financial issues and facilitate the orderly winding up of debts.