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Administrative Receiver vs. Receiver or Manager

Discussion in 'English Only' started by ewanek, Jun 26, 2008.

  1. ewanek Senior Member

    Czech Republic/Czech
    Hello, in a clause of a contract concerning Supplier's bankrupcy I came across the following sentence:

    If a receiver or manager on behalf of a creditor shall be appointed or if an administrative receiver is appointed then Purchaser is at liberty.


    I can't figure out the difference between these two officers. Can anybody help me, please? Thank you. ewanek
     
     
  2. Nunty

    Nunty Modified

    Jerusalem
    Hebrew-US English (bilingual)
    These sound like techincal or legal terms. To understand them, a person would need to know the country and industry involved, and quite probably also be a legal or financial professional.
     

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