Section 198: First report by receiver

198. First report by receiver (1) A receiver shall, not later than 2 months after his appointment, prepare a report on the state of the affairs with respect to the property in receivership, including— (a) particulars of the assets comprising the property in receivership; (b) particulars of the debts and liabilities to be satisfied from the property in receivership; (c) the names and addresses of the creditors with an interest in the property in receivership; (d) particulars of any encumbrance over the property in receivership held by any creditor, including the date on which it was created; [Issue 9] I14 – 116 Revised Laws of Mauritius (e) particulars of any default by the chargor in making relevant information available; and (f) such other information as may be prescribed. (2) The report shall also include details of— (a) the events leading up to the appointment of the receiver, so far as the receiver is aware of them; (b) property disposed of and any proposals for the disposal of property in receivership; (c) amounts owing, as at the date of appointment, to any person in whose interests the receiver was appointed; (d) amounts owing, as at the date of appointment, to creditors of the chargor having preferential claims; and (e) amounts likely to be available for payment to creditors other than those referred to in paragraph (c) or (d). continued on page I14 – 117 I14 – 116 (1) [Issue 9] Revised Laws of Mauritius (3) A receiver may omit from the report required to be prepared under subsection (1) details of any proposals for disposal of the property in receivership where he considers that their inclusion would materially prejudice the exercise of his functions.