What an Official Receiver Does When an Insolvency Practitioner is Used

In many cases an insolvency practitioner will be hired for an insolvency case. If this happens the official receiver that is working with an insolvent person will have to hand over the administration that it has. The administration in this case refers to the general assets that are involved here.

If an insolvency practitioner cannot work in this case the official receiver office will end up working as the practitioner. When this happens the office will be responsible for selling off the assets that have been involved in a case. This is so all creditors can be paid off in a case.