Dictionary

receivership

noun re·ceiv·er·ship \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

1
:  the office or function of a receiver
2
:  the state of being in the hands of a receiver
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Examples of RECEIVERSHIP

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

First Known Use of RECEIVERSHIP

15th century

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