ABSTRACT
A receiver who is appointed with reference to a fixed charge is only responsible for the secured asset and therefore needs no more powers than those of sale, in the same way as a mortgagee. This type of receiver is an agent of the debenture holder appointing him. However, an administrative receiver who, by virtue of the floating charge over the whole of the available assets of the company, will be responsible for the management of the company will be the agent of the company (unless appointed by the court) and, therefore, needs the power to run it.
