Ms Rasheda Hodge has been appointed Official Receiver at the Ministry of Finance. Photo: GIS

The Official Receiver is a public officer appointed by the Government of the Virgin Islands who serves as an officer of the court. The officer assumes various roles, including that of a Court-appointed liquidator, provisional liquidator, supervisor, interim supervisor, receiver, administrator, administrative receiver, or bankruptcy trustee.

According to a press release from Government Information Service (GIS) today, April 22, 2024, Ms Hodge will be responsible for the administration and management of casework, including investigations and overseeing the affairs of companies placed into insolvency or recovery appointments.

Following the ascension of the Insolvency (Amendment) Act, 2022, the portfolio of the Official Receiver now falls under the Ministry of Finance. Subsequently, Ms Hodge was later identified by the Ministry of Finance as the appropriate candidate to fill the position, GIS stated.

It added that in preparation for the role, Ms Hodge underwent secondments to the UK Insolvency Service for three months and a local Insolvency Firm, Teneo, for six months.

Catalysing 'constructive transformations' within insolvency industry 

Ms Hodge said, "As the newly appointed Official Receiver for the Government of the Virgin Islands, I am honoured to step into this vital role within the insolvency industry and pledge to maintain integrity, fairness, and efficiency across all my responsibilities.”

“My aim is to catalyse constructive transformations within the insolvency industry by streamlining processes, enhancing collaboration with stakeholders and introducing inventive strategies and solutions to address emerging challenges thereby ultimately fostering a more robust and equitable insolvency landscape for the territory,” she added.

Qualifications

Ms Hodge holds a Bachelors of Laws (LLB) and a Masters of Laws (LLM), Corporate & Commercial, from the University of the West Indies, Cave Hill Campus. She was called to the Bar of the Virgin Islands on February 16, 2016.

She has previously served as Assistant Secretary in the Ministry of Finance, Administrative Senior Assistant to the Deputy Financial Secretary, and worked within the Anti-Money Laundering Implementation Unit (Implementation of NRA Recommendations).