It doesn't matter what receiver has them, by normal receiver / bank practices you would have to wait until they go on the market to submit a bid. It is in the bank and borrowers interest to sell the properties for the best price to help clear the debt so likely the receivers will be instructed once all legal challenges by the borrower are exhausted to place on the market or auction and not entertain any direct offers ( if that's your intention) The borrower depending on their arrangement is likely to be liable for residual debt. So would want that to be as minimal as possible and could challenge the bank in the future if they felt not all best efforts to get the best price were pursued. I can only assume that the fact the properties are under receivership for a protracted time that there is a legal challenge of some sort in the background, could be due to Tracker redress issues for e.g.