Re AIC Merchant Finance Ltd (in rec)

This phrase, "Re AIC Merchant Finance Ltd (in rec)," is a legal and business notation typically used to indicate the status of a company named AIC Merchant Finance Ltd. The abbreviation "(in rec)" signifies that the company is in receivership.

Receivership is a form of insolvency proceeding where a receiver is appointed to manage the affairs, business, and property of a company. The receiver's appointment can be made by a secured creditor (such as a bank), or by a court order. The primary role of the receiver is to realize the assets of the company and distribute the proceeds to creditors in accordance with their priority.

The inclusion of "Re" (short for "In re") before the company name is a legal convention, often used in headings and titles to indicate that the matter concerns, or relates to, the specific entity. It essentially means "in the matter of" or "regarding."

Therefore, "Re AIC Merchant Finance Ltd (in rec)" indicates that any document, legal proceeding, or discussion pertains to AIC Merchant Finance Ltd, and that the company is currently under receivership management. It serves as a formal notification of the company's financial difficulties and the intervention of a receiver.