Who is the Official Receiver?
The Official Receiver is a public officer who acts as:
A Liquidator in Compulsory Winding Up
The Official Receiver is a public officer who may be appointed by the High Court to act as the liquidator of companies or limited liability partnerships (“LLPs”) undergoing compulsory winding up in Singapore. The Official Receiver’s role as a liquidator is to expeditiously recover and realise the assets of the wound up company or LLP for the distribution of dividends to creditors and administer any outstanding matters involving the wound up company or LLP.
A Regulator In Compulsory & Voluntary Winding Up
Where a private liquidator is appointed to administer the affairs of a wound up company or LLP, the Official Receiver will monitor the liquidator’s conduct to ensure that he performs his duties and complies with the requirements under the law.
A Representative in Defunct Cases (a company or LLP that has been dissolved or struck off)
Where there are outstanding assets belonging to a defunct company or LLP, these are vested in the Official Receiver under the section 213 of the Insolvency, Restructuring and Dissolution Act 2018 and paragraph 99 in the Fifth Schedule of the Limited Liability Partnerships Act. The Official Receiver will then act as a representative of the defunct company or LLP to administer these assets provisions in the respective Acts.
The Official Receiver may also represent the company in certain events, if it is proven to his satisfaction under the provisions in the Insolvency, Restructuring and Dissolution Act 2018 and the Limited Liability Partnerships Act
A Liquidator for Unincorporated Entities
Where the Official Receiver is appointed as a liquidator to act for an unincorporated entity (i.e. trade unions, societies, mutual benefit organisations or cooperative societies) whose registration is cancelled by the Registrar, its properties will vest in the Official Receiver. The Official Receiver will pursue the Statement of Assets from the office bearers and take the necessary steps to realise the assets of the unincorporated entity. Any proceeds derived are used to repay the unincorporated entity’s debts and liabilities (if any) by way of a dividends declaration.