A receiver should be:A) a registered liquidator.B) a secured party in relation to any property of the corporationC) an auditor or a director, secretary, senior manager or employee of the corporation.D) an auditor or a director, secretary, senior manager or employee of the body corporate related to the corporation.

Question

A receiver should be:A)  a registered liquidator.B)  a secured party in relation to any property of the corporationC)  an auditor or a director, secretary, senior manager or employee of the corporation.D)  an auditor or a director, secretary, senior manager or employee of the body corporate related to the corporation.

Sameer Ramkisson · Accepted Answer

Final Answer : A, Explanation :  A receiver is typically appointed by a court or a secured creditor to take control of and protect the assets of a financially troubled corporation. A registered liquidator is a professional who is qualified to take on this role and has the necessary expertise and experience to manage the affairs of the corporation in accordance with the law. Therefore, A is the best choice. B is incorrect as a receiver may not necessarily be a secured party themselves. C and D are also incorrect as they represent conflicts of interest for individuals who already have a relationship with the corporation or a related body corporate.

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