receivership

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

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

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 The receivership conducted an audit of the prison that year, and concluded that sanitation had to be addressed immediately. Adam Ashton, sacbee, "Disabled workers fear losing their jobs at California prison | The Sacramento Bee," 23 May 2018 Khouri's announcement came after the state released the Highland Park School District from receivership. Paul Egan, Detroit Free Press, "Michigan without state-appointed emergency managers for first time in 18 years," 27 June 2018 Parents, teachers and community members first learned of the budget deficit that led to Murphy's receivership three days before a raucous February school board meeting. Ricardo Cano, azcentral, "'We're asking for help': State will take over dysfunctional Murphy school district," 25 June 2018 Those creditors now have a seat at the table as the receivership unfolds. Harold Brubaker, Philly.com, "Saber Healthcare takes over operations of Suburban Woods, nine other Pa. nursing homes," 24 Apr. 2018 This year, Berrada companies picked up four properties from Elijah Mohammad Rashaed, whose properties have been effectively placed in receivership as part of the city attorney's effort to drive him out of the business. Kevin Crowe, Milwaukee Journal Sentinel, "'He'll evict you in a minute.' Landlord quietly becomes a force in Milwaukee rental business...and eviction court," 13 July 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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Last Updated

7 Dec 2018

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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 \

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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