Generally, a controller will be appointed by a secured party under the provisions of a security agreement or mortgage and can include a receiver, receiver and manager or agent for the mortgagee.
A controller’s function in normal circumstances is to take control of secured assets and to protect or realise these assets for the benefit of the secured party. In some circumstances a controller may be appointed by statute i.e. pursuant to the Conveyancing Act or by the Court.
The principals of Dean-Willcocks Advisory have acted for major banks, other financial institutions and private lenders in securing their mortgaged assets and engaging in a realisation strategy that maximises the returns to these secured lenders.
We have also been appointed by the Court to both corporate and non-corporate business structures – in some instances to protect the assets and maintain the status quo and in other instances to act as defacto liquidators to realise and distribute the assets.
As with all of our insolvency administrations, we pride ourselves on our hands-on, professional approach and our objective is to achieve the best solution.
For more information, please contact us to arrange an immediate initial interview without obligation.