When we refer to the ‘Official Receiver’ we are colloquially referring to the Insolvency Service, for whom he/she is an officer. The OR is answerable to the courts for carrying out the courts’ orders, but also acts on directions, instructions and guidance from the Service’s Inspector General or, less often, from the Secretary of State. The OR has three main responsibilities a) acting as an interim receiver or provisional liquidator b) acting as receiver, trustee or liquidator – the OR becomes receiver and manager when a court makes a bankruptcy order against an individual and c) acting as supervisor: in a fast-track voluntary arrangement proposed by a bankrupt.
In an everyday sense, the OR is the person who processes all the paperwork and investigates the circumstances surrounding a bankruptcy. The OR often gets bad press as the perceived ‘bad guy’ in bankruptcy cases, but there is little to fear if you play it straight. Our experience of the OR / Insolvency Service is generally positive, but woe betide anyone who tries to pull one over on him/her (hiding assets, not declaring bank accounts, etc). Not a good idea.
Bankruptcy UK offers a full bankruptcy administration service and will submit your bankruptcy application online. Court appearances are no longer required for bankruptcy. Call us for bankruptcy help on 01425 600129 or for an informal chat about your circumstances.