Davison said: "The joint receivers will continue to trade the business while we consider all options, including selling the business as a going concern."
A spokeswoman for the company said it is understood that there had been no redundancies at this stage as the receiver continues to trade the business.
Inveresk has a mill in Somerset, which produces speciality products for niche markets. The company also has a registered office in Stirling, and a site in Singapore.
The Inveresk Paper Company was incorporated in 1922 in Musselburgh, Scotland. For the year ended 31 December 2007, it recorded a turnover of £12.4m with a pre-tax loss of £2.1m.
In its interim results for the six months ended June 30 2008 turnover was £7.2m, up from £6.8m a year earlier, while its pre-tax result came in at a £1m loss, worse than the £856,000 loss it made in the preceding year.
In May, fellow Scottish paper manufacturer Tullis Russell claimed a victory in its legal battle with Inveresk after the London Supreme Court ruled in its favour and overturned previous verdicts in favour of Inveresk.
The unanimous decision related to Inveresk's sale of its Gemini brand to Tullis Russell in 2005.
Inveresk declined to comment on its move into receivership.
