Rasheda Hodge appointed Official Receiver

The government has appointed Rasheda Hodge as the new Official Receiver, a move likely to fortify the oversight of corporate solvency in the territory.

The new position is especially crucial after the Insolvency (Amendment) Act 2022. It places her at the forefront of the territory’s efforts to manage and recover financially struggling companies. The Official Receiver functions as an officer of the court, taking on diverse roles including court-appointed liquidator, provisional liquidator, and bankruptcy trustee, among others.

Hodge’s responsibilities will encompass the administration and management of casework, from investigations to the oversight of companies under insolvency or recovery procedures. Her recent preparatory experiences include secondments to the UK Insolvency Service and a local firm, Teneo, equipping her with much-needed insights and skills for her new position.

Hodge expressed commitment to the role after being appointed.

“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,” Hodge said.

She added: “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.”

Hodge earned a Bachelor of Laws (LLB) and a Master of Laws (LLM) in Corporate & Commercial Law from the University of the West Indies, Cave Hill Campus. She was called to the Bar in the Virgin Islands on February 16, 2016.

Her previous roles within the Ministry of Finance and the Anti-Money Laundering Implementation Unit underscore her deep-rooted expertise and commitment to financial governance.