Complaint about Receiver sale?

Shefwedfan

Can you complain about a receiver sale or call an inquiry into what they are doing?

I am trying to buy a property and every time I think I have everything sorted they throw up another issue to say they can't accept the bid. Now out of nowhere someone else has shown up and they are accepting a bid lower than my own.

Is there any government body or banking body that investigates these people?

arctictree

Shefwedfan wrote: »

Can you complain about a receiver sale or call an inquiry into what they are doing?

I am trying to buy a property and every time I think I have everything sorted they throw up another issue to say they can't accept the bid. Now out of nowhere someone else has shown up and they are accepting a bid lower than my own.

Is there any government body or banking body that investigates these people?

The property could just have been put on the open market for price disclosure. You might never had had the opportunity to buy it. Happened to me.

MarkAnthony

Recivers are pretty much a law unto themselves. Any act they do which is illegal falls back on the owner of the property. (With some exceptions)

Shefwedfan

Are the receiver not put in place by the courts? can you not go back to the courts

MarkAnthony

There are circumstances in which you can, whether you'd have locus standi as a potential purchaser isn't something I can answer. Also you'd be looking at an extremely costly legal battle if you could.

Incidently the reciever is not always court appointed, they may be appointed on foot of the debencher (mortgage). It's an extrememly archic area of law.

(sorry for spelling)

4ensic15

Shefwedfan wrote: »

Are the receiver not put in place by the courts? can you not go back to the courts

Only some receivers of companies are appointed by courts. Others are appointed under a debenture or a mortgage.