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Receiverships Act 1993

33: Relief from liability

You could also call this:

"Help from the court if you're a receiver and didn't do anything wrong"

Illustration for Receiverships Act 1993

If you have acted as a receiver, the court can help you avoid being personally liable for things that happened during the receivership. The court will do this if it thinks the liability happened because of a problem with how you were appointed, and if you acted honestly and reasonably. You should be excused in the circumstances.

The court can decide to help you with conditions attached. If the court helps you, the person who benefited from the receivership may have to take on some of the liability instead. The court can give directions on how this will work.

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32: Liabilities of receiver, or

"What a receiver is responsible for paying when in charge"

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33Relief from liability

  1. The court may relieve a person who has acted as a receiver from all or any personal liability incurred in the course of the receivership if it is satisfied that—

  2. the liability was incurred solely by reason of a defect in the appointment of the receiver or in the deed or agreement or order of the court by or under which the receiver was appointed; and
    1. the receiver acted honestly and reasonably and ought, in the circumstances, to be excused.

      1. The court may exercise its powers under subsection (1) subject to such terms and conditions as it thinks fit.

      2. A person in whose interests a receiver was appointed is liable, subject to such terms and conditions as the court thinks fit, to the extent to which the receiver is relieved from liability.

      3. The court may give such directions as it thinks fit for the purposes of subsection (3).

      Compare
      • 1955 No 63 s 345A
      • 1980 No 43 s 39