: the state of being in the hands of a receiver
Examples of RECEIVERSHIP
- Years of financial difficulty eventually placed the company into receivership.
First Known Use of RECEIVERSHIP
Rhymes with RECEIVERSHIP
, factory ship
, Freudian slip
, median strip
, potato chip
, rejection slip
, run a tight ship
, shoot from the hip
, stiff upper lip
receivership 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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