receivership

noun
re·​ceiv·​er·​ship | \ ri-ˈsē-vər-ˌship How to pronounce receivership (audio) \

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 on the Web

The road is in receivership and under the supervision of attorney Matthew McGowan. USA TODAY, "Retired monkeys, freeze-dried blood, ‘Hidden Figures Way’: News from around our 50 states," 14 June 2019 The announcement comes after news last week that Harborplace has been put into receivership. Oyin Adedoyin, baltimoresun.com, "LandShark Bar & Grill, a Jimmy Buffett-themed restaurant, coming to Harborplace," 11 June 2019 One possibility is receivership, in which the federal Department of Housing and Urban Development or an independent receiver would take over the authority. WSJ, "NYCHA to Open Land to Developers to Raise $3 Billion for Fixes," 12 Dec. 2018 Apiscent was formed by a group that bought Fontarome Chemical Inc. out of receivership for $2.5 million in 2014. Rick Romell, Milwaukee Journal Sentinel, "St. Francis chemical business lands in receivership for second time in four years," 22 June 2018 The Union Pacific Railway entered receivership in 1893. James Freeman, WSJ, "When Banks Bailed Out the Government," 3 Aug. 2018 But by May subcontractors were going unpaid, and in June the company abruptly went into receivership, a bankruptcy-like proceeding. Jim Brunner, The Seattle Times, "Dino Rossi has done well in real estate, but his work is also fodder for campaign opponents," 16 Oct. 2018 Businesses in receivership include Bright Smile Financing, which finances dental procedures, payday lender Ganador Enterprises and Digi South, which used to own Playgirl and other adult magazines. Peg Brickley, WSJ, "SEC Accuses Former Playgirl Magazine Owner of Defrauding Investors," 29 Aug. 2018 Closer to home, and inexcusably, practically every social-service agency was well on its way to court receivership. Anthony A. Williams, Washington Post, "Washington has come far in 50 years, but is there a way to make it work for everyone?," 27 Mar. 2018

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.

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First Known Use of receivership

15th century, in the meaning defined at sense 1

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Statistics for receivership

Last Updated

22 Jun 2019

Look-up Popularity

Time Traveler for receivership

The first known use of receivership was in the 15th century

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More Definitions for receivership

receivership

noun

Financial Definition of receivership

What It Is

Receivership is a form of bankruptcy in which a court-appointed trustee reorganizes the bankrupt entity.

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.

Source: Investing Answers

receivership

noun

English Language Learners Definition of receivership

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

receivership

noun
re·​ceiv·​er·​ship | \ ri-ˈsē-vər-ˌship How to pronounce receivership (audio) \

Legal Definition of receivership

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

More from Merriam-Webster on receivership

Rhyming Dictionary: Words that rhyme with receivership

Britannica.com: Encyclopedia article about receivership

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