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A receiving order is a legal document issued by a court in the context of insolvency proceedings, typically when a company or individual is unable to pay their debts. It appoints a receiver, who is responsible for managing the assets of the debtor to maximize recovery for creditors. This order allows the receiver to take control of the debtor's assets and operations, ensuring that they are preserved and properly managed during the insolvency process. The receiving order is a key step in the formal process of winding up debts and can lead to further actions, such as bankruptcy or liquidation.

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6d ago

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