Mark Eastwood is a Registered Property Receiver (RPR) since 2015. Before joining Legat Owen, Mark spent 8 years in the coporate recovery team of one of the UK’s largest forms of Chartered Surveyors dealing with a variety of Receivership appointments across the North West and North Wales areas and has dealt with a variety of property types such as industrial, retail, offices, residential, commercial land and part completed development sites.
Corporate Recovery Department
The corporate recovery department provides a full range of services from appraisal and valuation of the property to securing the site, building management, building surveying through to the marketing and sale of the property to maximise realisations. Our services cover individual properties and portfolios, including retail, offices, commercial, industrial, along with commercial and residential land. Our main areas of cover are Chester, Cheshire, Merseyside, North Wales, and the Wirral.
As a Fixed Charge Receiver in corporate recovery we are here to advise Insolvency Practitioners, businesses, their lenders, and advisers.
Fixed Charge Receivership
Fixed Charge Receivership (often known in England and Wales as LPA Receivership) is a cost effective means for securing recovery in certain distressed situations. It allows the lender, depending upon the nature of the charge or status of the borrower, to secure speedy control of the asset.
It is a simpler and usually more cost effective process than other form of receivership.
Receivership – The Facts Explained
The appointment of a fixed charge receiver enables a lender to recover money from a borrower who has failed to meet its obligations under the terms of the loan secured on a property or other fixed assets – usually known as a mortgage. In appropriate circumstances, the process of receivership benefits from being a quicker, simpler, and usually much more cost-efficient way of securing recovery that the alternative of appointing an administrator.
The process of receivership is governed by the Law of Property Act 1925 (and in Ireland by the Conveyancing Act 1881). The process is therefore often referred to as ‘LPA Receivership’.