Administrative receivers are normally appointed by a bank or other lender when a company breaches the terms of its borrowing from a creditor. This type of receivership (there are others) is an enforcement remedy available to a creditor holding security which includes a floating charge over all (or substantially all) the assets of a company. An administrative receiver is appointed by the holder of the security but normally acts as agent of the company over whose assets he is appointed. His principal function is to recover the monies owed to the creditor by whom he is appointed. It is common for an administrative receiver to continue to operate the business, whilst trying to sell it as a going concern.