receivership

noun

re·​ceiv·​er·​ship ri-ˈsē-vər-ˌship 

1

: the office or function of a receiver

2

: the state of being in the hands of a receiver

Example Sentences

Years of financial difficulty eventually placed the company into receivership.

Recent Examples on the Web

LAist All buildings operated by the nonprofit Skid Row Housing Trust have been placed into receivership after many of the 29 properties fell into extreme disrepair. —Ryan Fonseca, Los Angeles Times, 10 Apr. 2023

Advocates for criminal justice reform, though, had hoped that conditions at the jail were clearly bad enough that the court would put Rikers under receivership and out of the city’s control, a notion the Adams administration has rejected. —Ginia Bellafante, New York Times, 17 Dec. 2022

In 2019, Heritage defaulted on the hotel’s mortgage, and Benefit Street Partners, the hotel’s lender, successfully requested that the New York County Supreme Court put the hotel into temporary receivership, essentially giving another person the power to manage it. —Curbed, 6 June 2022

Dorsey will soon ask the receivership court to give the town control of the property. —Brian Amaral, BostonGlobe.com, 26 Apr. 2022

Exceptions for deposits at SVB and Signature Bank Regulators made an exception in March for depositors at Silicon Valley Bank (SVB) and Signature Bank after both institutions fell into receivership. —Nate Dicamillo, Quartz, 2 May 2023

JPMorgan Chase bought the bulk of First Republic’s $228 billion of assets Monday morning after the bank was taken into receivership by the FDIC. —Lucy Brewster, Fortune, 1 May 2023

Under the emerging plan, the Federal Deposit Insurance Corporation, the bank’s principal federal regulator, would place First Republic in receivership before quickly selling it. —Jeff Stein, Washington Post, 29 Apr. 2023

Shares of First Republic dropped 43% on Friday, reaching record lows after reports swirled that the regional lender is likely headed for receivership by the FDIC. —From Cnn's Alicia Wallace, Bryan Mena, Allison Morrow, Elisabeth Buchwald And Krystal Hur, CNN, 28 Apr. 2023

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Word History

First Known Use

15th century, in the meaning defined at sense 1

Kids Definition

receivership

noun

re·​ceiv·​er·​ship ri-ˈsē-vər-ˌship 

1

: the office or role of a receiver

2

: the state of being in the control of a receiver

Legal Definition

receivership

noun

re·​ceiv·​er·​ship ri-ˈsē-vər-ˌship 

1

: the office or function of a receiver

2

: a proceeding in which a receiver is appointed

3

: the state of being in the hands of a receiver compare bankruptcy