Published on: Mar 14, 2013
The phrase equitable receiver is one that we’ve mentions a few times when we’ve discussed debt collection. It is a way for management companies to get the rent being paid by tenants to landlords who have large amounts of service charges outstanding. The company ask the court to appoint them as equitable receivers which means the rent is paid to the management company instead of the owner.
This process made the news today when Waterside OMC followed this process and were appointed as receivers to the five apartments owned by Brendan Kelly over a debt of almost €30,000.
However the owner is claiming in a appeal to the High Court that this is unfair because he is unable to use the rent to pay the mortgage on the properties. You can read (a little) more about it on the Independent website .