noun \ri-ˈsē-vər-ˌship\

law : the state of a business that has been placed under the control of a receiver because it is bankrupt

Full Definition of RECEIVERSHIP

:  the office or function of a receiver
:  the state of being in the hands of a receiver


  1. Years of financial difficulty eventually placed the company into receivership.

First Known Use of RECEIVERSHIP

15th century


noun    (Concise Encyclopedia)

In law, state of being in the hands of a receiver, a person appointed by the court to administer, conserve, rehabilitate, or liquidate the assets of an insolvent corporation for the protection or relief of creditors. It is a legal solution to a financial difficulty; it does not necessarily entail the termination of the corporate charter. See also bankruptcy, insolvency.


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