Differences between Liquidators and receivers:
There are also significant differences:
(a)a liquidator has numerous statutory powers. A receiver must rely on the powers given by the debenture under which he is appointed (or by the court);
(b)a receiver is personally liable on the contracts which he makes for the company. A liquidator has no such liability. But either, if he fails to perform his duties properly, may be called to account in various ways.