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What Is The Difference Between A Business Liquidator And An Official Receiver?

The quick answer

The Official Receiver is a civil servant employed by the Insolvency Service who deals with compulsory liquidations and bankruptcies. A business liquidator is an individual working in the private sector and is a Licensed Insolvency Practitioner.

In more detail

When the directors want to liquidate a company they will need  a Licensed Insolvency Practitioner like us.  Often directors will want to use a private sector business liquidator instead of the Official Receiver. An Official Receiver is funded by the government and will often have unlimited time and resources to investigate a failed company.

A company will end up with the Official Receiver as liquidator if it is forced into liquidation by creditors – this is known as a compulsory liquidation. This is different from a creditor’s voluntary liquidation which means the directors have chosen a private sector liquidator.

 

tip

If you need insolvency advice the earlier you talk to someone like us the better as you will have more options. We can help, contact us today.

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Author: David Kirk - ACA FABRP
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David Kirk

Licensed Insolvency Practitioner