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Maximizing recoveries to secured creditors in B.C. condo development

Wednesday, June 13, 2018 @ 9:43 AM | By Katie Mak

When a company defaults on its obligations to a secured creditor, the secured creditor may apply to court to appoint a receiver to take possession of and sell or liquidate the secured assets to repay the outstanding debt. A receiver that is appointed by order of the court owes a duty to not only the secured creditor, but also to the court and other stakeholders, to maximize the value of the assets. One powerful tool available to the receiver is the ability to disclaim: a court-appointed...