Court Appointed R&M
The Courts may appoint a Receiver and Manager to protect or preserve the assets for the benefit of persons who have an interest in it based on an application made by the relevant party. The grounds for the appointment of Court Receivers or Receivers and Managers are varied and include, amongst others Partnerships in dispute, dissolution, or misconduct, between Vendors and Purchasers, Disputed titles and Charges.
Depending on the circumstances of the appointment, the Court appointed Receivers and Managers are primarily officers of the Court who will ensure that the assets in question are preserved and the status quo of the subject matter is maintained.
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