X-Nico

4 unusual facts about receivership


Henry I. Patrie

Patrie was Manager of the Dolgeville Electric Light and Power Company from 1898 to 1905, and during this time was also appointed as Receiver of the Dolgeville Telephone Company and the Dolgeville Savings Building and Loan Association.

Milton De Lano

He declined to be a candidate for renomination in 1890 and resumed banking; he was receiver of the Hudson River Power Co. from 1908 to 1912 and became president of the State Bank of Canastota in 1912.

New Haven EP5

All 10 were quickly rebuilt under the trustees' management, but by the time of the New Haven's 1969 inclusion in Penn Central, four were again out of service (and were soon scrapped).

Suthep Po-ngam

On 3 November 2009, the Supreme Court of Justice of Thailand affirmed the judgments of the lower courts—the Central Bankruptcy Court and the Central Appeal Court—adjudging Suthep bankrupt and ordered his property to be under an absolute receivership.


1992–93 Birmingham City F.C. season

Off the field, the collapse of the Bank of Credit and Commerce International (BCCI) put the club owners' business into receivership; in November 1992 BCCI's liquidator put up for sale their 84% holding in the football club.

2003–04 Luton Town F.C. season

On 12 May Bill Tomlins, head of the consortium buying Luton Town, confirmed The Football League had formally approved the purchase of the club from administrative receivership.

Aero Composite Technologies

It purchased the rights to the Sea Hawker amphibious aircraft from Aero Composites in 1988 and marketed them for a short time before being forced into receivership amidst bad publicity that the design had developed.

Alan McGee

At the point it seemed Creation would collapse into receivership, the recently signed Manchester band Oasis began selling albums in huge quantities, as they epitomised the cultural Britpop movement of the mid-1990s.

Barney and Smith Car Company

Barney & Smith faced challenges from bigger railcar makers in the late 1890s and early 1900s and went into receivership in 1913, when the Great Dayton Flood damaged its facilities; the company finally disappeared in 1921.

Biflex Products Corporation

Two Biflex Products Corporation plants were sold to Oakes Products Corporation at a receivership sale in Wilmington, Delaware on November 4,

Charles F. Pfister

Driven into receivership, the monopoly was re-organized by Pfister, F.G. Bigleow and state Republican boss Henry C. Payne as The Milwaukee Electric Railway and Light Company (TMER&L).

Cleveland motorcycle

After receivership in 1907, merged with the American Bicycle Company to form Pope Manufacturing Company.

Davie Shipbuilding

In early 2011, TECO announced that Davie Yards Inc was in receivership and announced a bid by Fincantieri – Cantieri Navali Italiani of Italy and Fincantieri subsidiary DRS Technologies Canada to purchase the shipyard from TECO.

Everett Mall

During the fall of 2000, the Everett Mall was placed into receivership by the Snohomish County Superior Court after finding that its owners, Titanic Associates of Morristown, New Jersey had defaulted on a loan.

George G. Barnard

Gen. Marshall B. Champlain — he removed Daniel Drew as Director and Treasurer of the railroad, and appointed Cornelius Vanderbilt's son-in-law George A. Osgood as Receiver for $10,000,000 of new Erie Railroad stock.

Granville Technology Group

Just weeks before the company went into receivership, the Metro Interactive Design group owned by Glenn Bluff with brands including PC Service Centre, Drivermagic, ehelp4u, HijackThisPro PC Trouble, computerhope UK and askDrtech attempted to enter the retail market by entering a joint venture with the Computer Shop.

Irish Daily Mail

On 1 February 2011 it was announced that the Sunday Tribune had gone into receivership, with fresh investment being sought by McStay Luby.

Jorge P Newbery

The U.S. Department of Housing and Urban Development started foreclosure on the property and, due to the severity of the problems, installed a hot-line in their Dallas office to field the multitude of tenant complaints during the receivership term.

Magic 882

In 1995, after the disastrous Talk format experiment, 4BH was placed in receivership and bought for just over $2 million by Unitel and the Ipswich and West Moreton Broadcasting Corp. 4BH was relocated from Spring Hill to shared studios at the 106.9 QFM building in North Ipswich (now River 94.9).

Operation Sigma Sigma

Slingsby Sailplanes Ltd. soon went into receivership after the disastrous fire so the remaining prototype Sigma Type C was relocated to the British European Airways workshops at London Heathrow Airport (LHR).

Peach Bottom Railway

Heavy bonded indebtedness resulted in receivership for both divisions in 1881, and the Eastern Division was reorganized as the Peach Bottom Railroad, while the Middle Division became the York and Peach Bottom Railway.

Perween Warsi

In 1987, S&A Foods was acquired by the Hughes Food Group (which would ultimately go into receivership in 1990), with the resulting investment injection allowing them to open the first S&A Foods factory, in Derby, creating over 100 jobs for the area.

Ross-Loos Medical Group

The Friendly Hills Medical Group was acquired by KPC Global Care KPC "see Chadhuri Medical Group" and continued operations for a short while, however it too was placed into receivership by the State of California Department of Corporations in 1999 and closed down.

Roy Skeggs

Roy Skeggs is a former film producer for Hammer Films who is credited along with Brian Lawrence for revitalising the film company following receivership in 1979.

Solvay Indupa

It relocated operations to the petrochemical center in Bahía Blanca in 1986; but an economic crisis in subsequent years forced it into government receivership in 1993.

TARBS World TV

In July 2004, PanAmSat a major creditor of TARBS applied to have the organisation placed into receivership due to a failure to pay their satellite transponder lease payments.

The Wolseley

Wolseley Motors, a part of the Vickers engineering combine, lost its long-term leadership of the British car industry in the early 1920s and fell into receivership in 1926.

Versailles Group

In December 1999, trading in Versailles shares was suspended and in early 2000, the company was placed in administrative receivership.


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