Receivership in Ireland: What a Receiver Does and How It Differs from Liquidation

A receiver is appointed to recover a lender's money, not to close a company down. That is the main difference between receivership and liquidation, and it is often misunderstood by directors, suppliers and staff. This guide explains, using Irish official sources, who appoints a receiver, what a receiver does, what the company must show on its paperwork, and how receivership differs from liquidation. It is general information for employers, directors and finance teams in Dublin and elsewhere, not legal advice.

If you are looking at the other end of a company's life, our guides to voluntary liquidation and to company strike-off and restoration cover those routes.

What a receiver is

The Office of the Director of Corporate Enforcement (ODCE) booklet on liquidators, receivers and examiners (issued May 2015, so it may not reflect later changes) describes a receiver as a person whose function is to receive a debtor's asset for a creditor. In practice, the receiver takes control of assets mortgaged or charged to a lender, sells them and applies the proceeds to the debt. The booklet says receivership is governed mainly by Part 8 of the Companies Act 2014.

Citizens Information (page last edited 16 June 2026) puts it simply: a receiver may be appointed by the court or by a lender enforcing a loan agreement, and takes control of the company's assets that were used as security for the loan. The Companies Registration Office (CRO) page on receivership (last modified 11 November 2025) says a receiver can be any person who is neither a body corporate nor an undischarged bankrupt, and that the receiver's duties are normally set out in the instrument under which they are appointed.

Who appoints a receiver, and when

According to the ODCE booklet there are two main routes:

• A debenture holder, usually a lender such as a bank, appoints under powers in a written loan agreement (a debenture), typically after an event of default, insolvency or an adverse change in the company's circumstances.
• The High Court can appoint on an application by a creditor, including where a debenture holder fears its security is at risk even before a default entitles it to appoint.

Revenue's Tax and Duty Manual on liquidation (document updated May 2026) describes the same lender-driven route: a lender holding a debenture can appoint a receiver if it becomes concerned about the company's solvency, and the receiver takes control of the charged assets and sells them to recover the debt. The manual explains that a debenture may contain a fixed charge over a specific asset, a floating charge over assets that change over time, or both.

Receiver, receiver manager and who they act for

The ODCE booklet distinguishes a few types:

• A receiver is appointed over specific assets.
• A receiver manager is appointed where the debenture charges the whole undertaking and also manages the business during the receivership.
• A court-appointed receiver holds the status of an officer of the court and takes instructions from it.
• A debenture-appointed receiver is a creature of contract: the status depends on the debenture terms, and the debenture commonly provides that the receiver acts as the company's agent.

Revenue's manual says the primary duty of the receiver is to the lender that appointed them. The ODCE booklet says a receiver owes a fiduciary duty to the debenture holder and must take reasonable care to obtain the best reasonably obtainable price when selling assets. That sale duty is owed to the company and possibly to third parties such as guarantors. The booklet also lists powers, including, for a receiver manager, carrying on the business, borrowing, employing or dismissing staff and compromising debts. A receiver unsure of their powers may apply to the court for directions.

What receivership means for the company and its directors

The ODCE booklet states that the company's legal status is unchanged by a receivership, and that the powers of the company and its directors over the affected assets are suspended unless the receiver consents. A floating charge may crystallise into a fixed charge if the appointment is a crystallising event. Revenue's manual adds that the company may keep trading while the receiver realises assets and may continue after the receiver leaves.

The CRO page notes that a receiver is not an officer of the company and cannot sign statutory filings such as a change of registered office. Those filings must be signed by a director or secretary, or by the liquidator if the company is in liquidation, with an exception for receivers appointed by NAMA. Those filings are therefore still signed by a director or secretary, not by the receiver. Our guide to tax clearance certificates is relevant background if your business needs to show its tax compliance status to customers or authorities, though this guide does not say how receivership affects a clearance application and you should check with Revenue.

Filings and disclosure

The CRO publishes the receiver's filing requirements. As shown on its receivership page (last modified 11 November 2025) and its Leaflet 38 (last modified 4 June 2025):

• Form E8, the notice of appointment, is filed with the CRO within seven days of appointment and published in Iris Oifigiúil.
• Form E9, the receiver's abstract, is filed for each six-month period from appointment and for any shorter final period. Leaflet 38 states it is due within 30 days of each period end.
• Form E10, the statement of affairs, is required where a receiver is appointed for debenture holders secured by a floating charge. The statement goes to the receiver, who files a copy with the CRO; Leaflet 38 says within two months of receipt.
• Form E11 is the notice of ceasing to act.

The CRO says that Forms E8, E9 and E11 can only be submitted through its CORE system and that all receivership documents carry a filing fee, shown on the page as EUR 15. Those details are dated and can change, so check the CRO site for current forms and fees. On cessation, unless the company is already in liquidation, the receiver states under section 430 of the Companies Act 2014 whether the company was solvent, filed with the final abstract; the CRO forwards it to the Corporate Enforcement Authority.

Disclosure also matters for day-to-day trading. The CRO says that after appointment, invoices, orders and business letters must state that a receiver has been appointed, and Leaflet 38 adds that company websites and emails sent to third parties must carry the same statement. Our suggestion: if a lender has appointed a receiver, have the finance team update invoice and email templates straight away rather than waiting for the first complaint.

The CRO also explains a register point. Since 22 March 2017 the company status "Receivership" is no longer used, so a company in receivership shows as "Normal" with a note that a Form E8 has been filed. Anyone checking a supplier's status on the register should look for that note.

Receivership compared with liquidation

The ODCE booklet sets out the contrast. A receiver recovers a lender's secured debt by realising charged assets, while a liquidator brings the company to a legal end, realises its assets and distributes them. The company continues to exist in receivership, but its existence ends on dissolution after liquidation. A receiver's duty runs to the debenture holder (or the court), whereas a liquidator's duty is to the company and its creditors or members. Business activity under a receiver is generally limited to enforcing security, though a receiver manager may run the business; a liquidator must cease business except as needed for the winding-up.

Revenue's manual makes consistent points: a receiver deals only with the assets covered by the charge, while a liquidator must act in the interest of all creditors. The two can overlap. The booklet says a liquidator's appointment does not automatically end a receivership, but a liquidator may apply to the High Court to end or limit it.

Tax and creditor points

Revenue's manual says receivers have certain obligations on the company's outstanding tax debts, that Revenue's preferential position depends on whether the charge is fixed or floating, and that a receiver is responsible for current tax liabilities if they run the business for a period. It also says the RCT rules apply in receivership as normal. This guide does not cover how receivership ranks creditors or the specific tax filing duties of receivers. The ODCE booklet says that, when realising assets under a floating charge, a receiver must pay preferential creditors before other debts, including the debenture holder.

For customers and suppliers, Citizens Information (page last edited 30 January 2026) explains that where a receiver or liquidator has been appointed, the company is no longer run by its owners, and that someone owed money should write to the officeholder stating what they paid for, the exact amount and what they want. It cautions that there is no guarantee a claim will succeed. This guide does not set out how creditors rank; consult the ODCE booklet and a professional adviser for that.

Examinership and the three-day rule

The ODCE booklet says no examiner can be appointed where a receiver has been in place continuously for at least three days before the petition, and Revenue's manual says that while an examiner is in place a receiver may not be appointed. Directors weighing options should take professional advice early.

Learnsignal's offices are off Baggot Street in Dublin, and we offer in-person training from there. For current details, see our CPD pages.

Frequently asked questions

Does receivership close the company?

No. The ODCE booklet says the company's legal status is unchanged by a receivership. Liquidation, by contrast, ends with the company's dissolution.

Who can appoint a receiver?

A debenture holder, usually a lender, acting under the loan agreement, or the High Court on a creditor's application, according to the ODCE booklet.

Whom does a receiver act for?

Revenue's manual says the primary duty is to the appointing lender. A liquidator, by contrast, must act for all creditors.

Must a company say that a receiver has been appointed?

The CRO says invoices, orders and business letters must state it, and Leaflet 38 adds websites and emails to third parties.

Can a company in receivership keep trading?

Revenue's manual says the company may keep trading while the receiver realises assets, and the ODCE booklet says a receiver manager may carry on the business.

This guide is general information drawn from the sources named and is not legal advice. Directors and creditors should take professional advice on their position.