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 In early 2012, the mall lost anchor tenant Macy’s and was in receivership. John Benson, cleveland, "New owner Allied Development sees The Shoppes at Parma as not a ‘typical mall’," 4 Dec. 2019 But only a handful of units sold, and the project went through foreclosure and receivership before a group of investors bought the property in 2012 and converted it into apartments. Jordyn Grzelewski, cleveland.com, "High-end condo project resurrected by new developer," 5 Sep. 2019 By putting the property at East Pratt and Light streets into receivership, the court took control of it away from Ashkenazy, a New York real estate company that bought it in 2012. Lorraine Mirabella, baltimoresun.com, "Receiver issues report offering look at struggles of Baltimore’s Harborplace," 24 July 2019 The company went into receivership in 1962 as competition from grocery stores with lower prices mounted, according to archives. Domenica Bongiovanni, Indianapolis Star, "Remember the old Polk milk building? Imagine its future at this year's Pre-Enact Indy.," 13 Oct. 2017 Even if a building was placed in receivership and an operator handed the keys over to the state, the home would not close immediately, said officials with the Department of Social Services and the Office of Policy and Management. Josh Kovner, courant.com, "As trend shifts to in-home care, Connecticut cuts funding to nine nursing homes with high vacancy rates," 22 Aug. 2019 The Illinois Department of Insurance placed the companies in receivership. Author: Marc Fisher, Jonathan O'connell, Anchorage Daily News, "For 30 years, prosecutors and victims tried to hold Jeffrey Epstein to account. At every turn, he slipped away.," 10 Aug. 2019 Harborplace, which is struggling with vacancies and management problems, has been in receivership since May 30. Lorraine Mirabella, baltimoresun.com, "Banana Republic closing store at troubled Harborplace," 2 Aug. 2019 The four-story brick building, which dates to the 1960s, was previously owned by Shaker Square Development Corp. Yosemite bought it out of receivership last May for $740,000, according to property records. Jordyn Grzelewski, cleveland.com, "Cleveland won them over: Former Florida couple invest in revitalizing Buckeye-Shaker neighborhood," 21 July 2019

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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Time Traveler for receivership

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

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Statistics for receivership

Last Updated

7 Dec 2019

Cite this Entry

“Receivership.” The Merriam-Webster.com Dictionary, Merriam-Webster Inc., https://www.merriam-webster.com/dictionary/receivership?pronunciation&lang=en_us&dir=r&file=receiv05. Accessed 11 December 2019.

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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
How to pronounce receivership (audio)

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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