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receivership

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noun re·ceiv·er·ship \ri-ˈsē-vər-ˌship\

Simple Definition of receivership

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

Source: Merriam-Webster's Learner's Dictionary

Full Definition of receivership

  1. 1 :  the office or function of a receiver

  2. 2 :  the state of being in the hands of a receiver


Law Dictionary

receivership

play
noun re·ceiv·er·ship \ri-ˈsē-vər-ˌship\

Legal Definition of receivership

  1. 1 :  the office or function of a receiver

  2. 2 :  a proceeding in which a receiver is appointed

  3. 3 :  the state of being in the hands of a receiver — compare bankruptcy




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