Definition of receivership
1 : the office or function of a receiver
2 : the state of being in the hands of a receiver
Examples of receivership in a Sentence
Years of financial difficulty eventually placed the company into receivership.
Recent Examples of receivership from the Web
Black Bear Bottling, a 97-year-old Milwaukee-area soda maker known for such flavors as lime, blue raspberry and peach — and their vivid colors — has filed for receivership.
Under that version, transfer schools that failed to get off the comprehensive support and improvement list after three years would have automatically been put into receivership.
Chartered Health Plan, the dominant player that managed 100,000 residents, was placed into receivership amid financial woes and stopped paying some of its claims.
A predecessor, Imperial Laundry Systems, filed for receivership in 2011.
The graveyard was placed in receivership and the Mount Moriah Cemetery Preservation Corp. was created to organize its records and restore its overgrown grounds.
Once the receivership was finalized, volunteers began weekly visits to the storage facility — and later, to the City Archives in University City, where the records were moved — to photograph every cemetery document in the 300 boxes.
A court filing also says that Wright had concerns that Davis was using the email address for Davis Capital Group – one of the entities involved in the case – to communicate with third parties about assets in receivership.
Benson said the property went into receivership and city officials worked with the bank to establish a letter of credit for new investors.
These example sentences are selected automatically from various online news sources to reflect current usage of the word 'receivership.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.
First Known Use of receivership
Financial Definition of RECEIVERSHIP
What It Is
How It Works
In a receivership, a receiver takes custody of the company's property and operations. A court appoints the receiver.
The receiver's job is to pay down as much debt as possible. This usually means selling company assets, laying off employees and liquidating inventories.
Why It Matters
Companies that are in receivership are at the mercy of the receiver. In fact, the receivers control the company, making decisions large and small, and the receivers have court-appointed authority to do so. Accordingly, companies that are in receivership are usually on their last legs.
RECEIVERSHIP Defined for English Language Learners
Definition of receivership for English Language Learners
law : the state of a business that has been placed under the control of a receiver because it is bankrupt
Seen and Heard
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