Receiverships
Protecting creditor interests and securing business assets
Receivership is a legal remedy typically initiated by a secured creditor, such as a bank or lender, when a borrower defaults on loan repayments. The goal is to recover outstanding debts through the realisation of secured assets. A receiver is appointed to take control of those assets and either manage, sell or dispose of them in a manner that maximises value for the creditor.
At Friel Stafford, we act as court-appointed and privately-appointed receivers, offering deep expertise in managing complex real estate portfolios, distressed businesses, and part-completed property developments.
When is a receiver appointed?
A receiver may be appointed when a borrower fails to meet the terms of a secured lending agreement. Typically, this involves:
- Default on loan repayments
- Breach of covenants within a loan agreement
- Insolvency or significant financial distress
Receivers are most often appointed under the terms of a debenture or mortgage deed. In some cases, court-appointed receiverships may also arise.
Our Receivership Services
Fixed Charge Receiverships
Fixed Charge Receiverships Overview
Led by Tom Murray, our team has built a strong reputation in asset receivership. Our five-stage strategy ensures a structured and commercial approach:
1. Stabilisation of the asset
2. Strategy development in line with lender priorities
3. Active asset management (including rent collection or short-term leasing)
4. Disposal of the asset at the optimal time
5. Handover of proceeds to the bank
Our role includes managing complex landlord responsibilities, addressing planning and compliance issues, recovering rental income, and preparing properties for market despite challenges such as borrower non-cooperation, documentation gaps, or unfinished developments.
Where necessary, we exercise statutory powers under the Land and Conveyancing Law Reform Act 2009, which allows for the appointment of a receiver even where the mortgage deed lacks an express power.
Trading Receiverships
Trading Receiverships Overview
Our multi-disciplinary team is equipped to take immediate control of trading businesses across sectors. We carry out a full operational review on appointment, addressing critical issues in:
- Business continuity
- Cash flow management
- Financial control
- Staffing and human resources
- Regulatory and tax compliance
Our goal is to stabilise the business and implement a plan that positions it for sale as a going concern, maximising returns for secured creditors while preserving value for employees and other stakeholders.
Property Development Receiverships
Property Development Receiverships Overview
We are one of the few Irish insolvency firms with an in-house property development team. This allows us to assess, manage and complete part-finished developments under receivership.
Our six-stage methodology includes:
- Feasibility assessment
- Planning issue resolution
- Budgeting and cost-benefit analysis
- Supervision and management of construction
- Coordination of sales and marketing
- Final site completion and handover to local authorities or management companies
This in-house capability ensures end-to-end control and protects asset value through to project completion.
Friel Stafford
Why appoint Friel Stafford as receiver?
Bank Approved
Appointed by all major Irish banks and financial institutions
Sector Expertise
Hands-on sector experience across property, trading, and development
In-House Team
Full in-house resources for legal, financial, and construction management
Trusted Relationships
Trusted to manage stakeholder relationships professionally and discreetly
Need to take control of a secured asset?
We act quickly and professionally to protect creditor interests and maximise value. Contact our team for confidential advice.
CONTACT US TODAY
+353 1 661 4066