Law of Property Act Receivers:

Law and Practice

John Hughes, Needham and James

Following the demise of administrative receiverships under the Enterprise Act 2002, Law of Property Act Receivership has become an increasingly popular method of enforcing security held by mortgagees. Yet few insolvency practitioners or other advisers instructed by lenders have the knowledge and experience necessary to use the powers conferred by the Law of Property Act to maximum effect.

In this timely and practical work, John Hughes analyses LPA receiverships in detail – from appointment to vacation of office – explaining their advantages and disadvantages by comparison with other insolvency procedures. He sets out the powers and obligations of officeholders, together with their potential liabilities – and how to avoid them.

This hands-on commentary will answer a myriad questions such as:

• Who can be appointed as an LPA receiver?

• How can the receiver deal with assets other than land?

• What are the receiver’s duties and to whom are they owed?

• In what circumstances can a receiver be removed from office?

• What arrangements will govern the receiver’s remuneration?

The comprehensive text reflects the author’s wealth of experience in LPA receiverships and is supported by valuable precedent and statutory materials.

About the Author
John Hughes is Senior Partner of Needham & James, solicitors, and heads the Corporate and Banking Department, specialising in property finance. John enjoys a national reputation as a leading authority on LPA receiverships. He is a council member of the Non-Administrative Receivers Association (NARA) which comprises specialists in fixed charge receiverships. His clients include banks and other financial institutions.

£55 + £4 p&p

Publication due February 2007
Paperback
ISBN 0-955-2834-2-6

 

1 The nature of "receivership"

• history and origin of receivership

• distinguishing between different types of receivership

• mortgages over assets other than land

• advantages of LPA receiverships

• disadvantages of LPA receiverships

2 Appointment

• who can appoint and who can be appointed

• the form of appointment

• acceptance of appointment

• notices

• termination

• checking the security

• indemnity

• remuneration

3 Powers of an LPA receiver

• statutory powers

• the receiver as agent

• the receiver as attorney

• power to trade

• power of sale

• power to grant and accept surrender of leases

• power to operate bank accounts

• power to insure

4 Obligations of an LPA receiver

• taxes / VAT

• obligations under a lease

• repair and maintenance

• obligations as a landlord

• environmental liability

• employment contracts

5 The future of receivership

• discussion of future trends and legislation

Precedents

• Deed of Appointment

• Form of Acceptance

• Deed of Indemnity
  
  Legislation
  List of useful addresses