Payment from a receiver......

trevr

Am I right in saying that after a company goes into a receivership that any supplier dealing with the receiver is legally guaranteed payment ??

spcw

Yes but you are at least 3rd in line behind the Banks and the revenue comms and the receivers own costs. Its rare there is anything left to pay you after the other gentlemen get there cut.

trevr

spcw wrote: »

Yes but you are at least 3rd in line behind the Banks and the revenue comms and the receivers own costs. Its rare there is anything left to pay you after the other gentlemen get there cut.

Thanks spcw, i'm talking about goods supplied after the receiver has been appointed and the business is still trading away as a going concern. In this instance am I not dealing with the receiver as a new entity and therefore legally guaranteed payment ??

spcw

100% correct you rank with the receiver.

antoinolachtnai

You are talking about the situation in relation to orders placed after the date of appointment of the receiver?

trevr

antoinolachtnai wrote: »

You are talking about the situation in relation to orders placed after the date of appointment of the receiver?

Yes....

maxer68

Yes - guaranteed once the receiver doesn't go bust:D.

Basically the reciver has taken charge of the business and you are in effect selling to the receiver rather than the business.