Which of the following is either a power or a function of a receiver:
I.$\quad$to take possession of designated company assets
II.$\quad$to instigate action to recover any shortfall from the directors
III.$\quad$to collect revenue generated by the assets and meet expenses in generating the revenue
IV.$\quad$To do all things necessary to protect the property

Question

Quizplus · Accepted Answer

A receiver's powers and functions include taking possession of designated company assets (I), collecting revenue generated by the assets and meeting expenses in generating the revenue (III), and doing all things necessary to protect the property (IV). However, instigating action to recover any shortfall from the directors (II) is not a power or function of a receiver; that would be the responsibility of the company's creditors or other stakeholders. Therefore, the correct choice is D, I, III, and IV only.

Which of the Following Is Either a Power or a Function