06 April 2020
Fixed charge receivership of an English property owned by an offshore company
This Carey Olsen bitesize guide is designed to provide a snapshot of the steps that should be taken in the British Virgin Islands and Cayman in connection with the appointment of a fixed charge receiver or Law of Property Act 1925 (the “LPA 1925”) receiver (each a “Receiver”) to a property in England which is owned by an offshore company.
This note assumes that the Receiver is not an administrative receiver appointed pursuant to a floating charging over all or substantially all of a company’s assets. This should be confirmed before any appointment is made, to avoid additional and potentially more onerous provisions applying under applicable offshore law.
Should you have any queries in respect of the above, please do not hesitate to contact one of the Carey Olsen team.