Appointment of Administrator, Receiver, Receiver Manager or Supervisor

Name: Appointment of Administrator, Receiver, Receiver Manager or Supervisor - Splashdict
Brand: Company
Price: 35000.00 NGN
Availability: InStock

NGN35,000

Appoint or Register an Administrator, Receiver, Receiver Manager or Supervisor with CAC

Notice of the appointment of an administrator, receiver, receiver manager, or supervisor must be officially filed with the Corporate Affairs Commission (CAC). This process is often initiated when a company is facing financial distress or is unable to pay its debts.

An administrator is appointed to manage a financially distressed company with the primary goal of rescuing the business and ensuring its survival. A receiver or receiver manager, on the other hand, is typically appointed by a secured creditor to take possession of and realize a company's assets to recover a debt. A supervisor is appointed in the context of a company voluntary arrangement (CVA).

Service Fee (All inclusive):

NGN35,000

Appoint a Receiver, Administrator, or Supervisor in Nigeria

Here’s how SplashDict's CAC-accredited experts assist you:

Documentation & Filing: We prepare the necessary documents and resolutions, and file the notice of appointment with the CAC.
Official Confirmation: Receive a CAC Status Report confirming the appointment of an administrator.
Transparent Pricing: Covers CAC fees and our service fee with no hidden charges.
Fast Processing: Filing is completed within 3 to 7 working days, depending on CAC approval.
Ongoing Support: Get expert help from our Chartered Secretary and compliance team for all regulatory needs.

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Why Appoint or Notify CAC of a Receiver, Administrator, or Supervisor?

The Corporate Affairs Commission (CAC) is notified of the appointment of a receiver, administrator, or supervisor to ensure transparency and compliance with insolvency regulations.

This notification allows the CAC to maintain accurate records of company status and facilitate oversight of the appointed individual's activities. It also ensures that creditors, stakeholders, and the public are aware of the company's financial situation and any changes in management.

Legal Compliance: The appointment of an administrator or receiver must be officially recorded with the CAC within seven days of the appointment to comply with statutory regulations.
Public Record: Filing updates the company's official records, providing public notice to creditors, stakeholders, and other interested parties.
Clarity of Authority: This registration provides the appointed professional with the legal authority to act on behalf of the company and its assets.
Legal Authority: Appointments are made either by court order or by agreement under a security instrument (e.g., debenture agreement).
Scope of Authority: 'Receiver' manages only specific secured assets, 'Receiver Manager' manages assets and oversees company operations. 'Administrator' restructures or manages the company’s entire business under legal protection and
'Supervisor' oversees a company voluntary arrangement or liquidation process.
Purpose of Appointment: A Receiver or Administrator is appointed to recover debts, manage assets, or restructure the company when financial obligations are not met.
Ensures Debt Recovery for Creditors: Enables secured creditors to recover outstanding debts by managing or selling the company’s assets.

Requirements for Filing Notice of Appointment of Receiver, Receiver Manager, Administrator, or Supervisor

Company Details: Provide the company’s name and CAC registration number.
Details of Appointing Party: Provide full information on the person who made the appointment, including name, contact details, and service address.
Details of Appointed Officer: The full name, address, and CAC accreditation number of the individual or corporate entity being appointed as the administrator, receiver, receiver manager, or supervisor.
Appointment Details: Specify the appointment type (e.g., Administrator, Receiver, Receiver Manager, Supervisor), the date of appointment, and whether it covers 'part' or the 'whole' of the company’s property or undertaking.
Mode of Appointment: Indicate whether by court order, contractual agreement (e.g., debenture), or voluntary arrangement.
For Court-Ordered Appointments: Provide a Certified True Copy (CTC) of the court order, a statutory declaration, Proof of identification for the appointed officer, and Evidence of publication (where applicable).
For Appointments Under an Instrument: Provide a duly stamped deed of appointment, a statutory declaration, Proof of identification for the appointing party and the appointed officer, and Evidence of publication (where applicable).
For Administrators: In addition to the general requirements, a statement from the administrator consenting to the appointment.
For Receivers/Receiver Managers: A duly stamped deed of appointment (if appointed under a financial instrument) and a notice of the appointment to the CAC.
Authentication: The application must be authorized by a company director, secretary, or an authorized officer.