Receiver

In the context of a bankruptcy, the receiver is the person appointed by the commercial court to represent the bankrupt person and the creditors in order to ensure its proper management. They are tasked with determining the bankrupt person’s assets and redistributing the funds raised to the creditors based on their rank and level of priority.

The receiver also draws up an annual report on the bankruptcy’s situation for the court, setting out the status of any challenges to the declarations of receivables in particular.

The debtor’s bankruptcy is therefore managed by the receiver under the supervision of the bankruptcy judge and the commercial court.

Updated 08/08/2017

Definitions provided under this section refer to the Belgian situation; unless specified otherwise. The texts are meant to summarize concepts in daily language and should not be considered as comprehensive or definite. We welcome suggestions for modifications or additions at glossary@tcm.be.