What term is used for the insolvency professional designated by secured creditors to manage debt recovery?
Explanation
A receiver is an insolvency expert appointed by secured creditors to take control of and recover debts owed by the debtor. Unlike a liquidator who handles the entire liquidation process, the receiver specifically focuses on securing and managing the assets for repayment. Solicitors provide legal advice, agents act on behalf of others, and trustees manage assets in bankruptcy but are not appointed by secured creditors in this capacity.