Glossary
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Office Holder
In an insolvency context, the office holder is the Insolvency Practitioner who has been appointed over the Company as Liquidator, Supervisor or Administrator or appointed as Supervisor or Trustee over an individual.
Official Receiver
The Government Official who is appointed on Court Appointed Liquidations and Bankruptcies is titled The Official Receiver.
Onerous Property
Onerous property refers to unprofitable contracts and/or property that is more of a liability than and asset. In an insolvency situation is it usually disclaimed.
