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The early stages of a bankruptcy or liquidation are normally handled by an official receiver (OR).ORs work for the Insolvency Service and are attached to the court.In the case of a bankruptcy, the OR or IP (known as the trustee) realises (sells) any assets (except any reasonable domestic items and items needed for the bankrupt’s job).In the case of a compulsory liquidation, an OR or IP (known as the liquidator) will take control of the company and realise (sell) the company’s assets.An insolvency practitioner (IP) may be appointed later to deal with the assets.

The upgrade successfully happened on Tuesday , and the new Terms and Conditions came into force on 30 April 2018.javascript:common Show Modal Dialog('/_layouts/itemexpiration.aspx? ID=&List=', 'center:1;dialog Height:500px;dialog Width:500px;resizable:yes;status:no;location:no;menubar:no;help:no', function Goto Page After Close(pageid), null); Banks Foreign Bank Representation Liquidators Credit organizations Credit Bureau Insurance organizations Insurance Bureau Insurance brokers Insurance agents Lombards Currency Dealers and Exchange Agencies Payment Organizations Investment companies Investment and pension fund managersjavascript:common Show Modal Dialog('/_layouts/itemexpiration.aspx?ID=&List=', 'center:1;dialog Height:500px;dialog Width:500px;resizable:yes;status:no;location:no;menubar:no;help:no', function Goto Page After Close(pageid), null);javascript:common Show Modal Dialog('/_layouts/itemexpiration.aspx?© Crown copyright 2019 This publication is licensed under the terms of the Open Government Licence v3.0 except where otherwise stated.To view this licence, visit uk/doc/open-government-licence/version/3 or write to the Information Policy Team, The National Archives, Kew, London TW9 4DU, or email: [email protected]

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