Receivership
noun
A situation in which a court appoints a person to operate a company because it cannot pay its debts.
The company was placed into receivership due to their inability to repay their loans.
Often appears as...
- placed into receivership
- company in receivership
Usage tips
Formal
Technical
noun
A situation in which a court appoints a person to operate a company because it cannot pay its debts.
The company was placed into receivership due to their inability to repay their loans.
Often appears as...
- placed into receivership
- company in receivership
Usage tips
Formal
Technical
Definition 1 of 1
Pro Tip 1/3Legal Process
Receivership is a legal process and involves the court.
Due to severe financial problems, the court ordered the company into receivership.
Pro Tip 2/3Not Bankruptcy
Receivership is different from bankruptcy, though they both deal with debt issues.
While the company was in receivership, they tried to avoid filing for bankruptcy.
Pro Tip 3/3Court-Appointed Manager
A receiver is a person the court appoints to oversee the company.
A receiver took control of the assets during the period of receivership.
Pro Tip 1/3Legal Process
Receivership is a legal process and involves the court.
Due to severe financial problems, the court ordered the company into receivership.
Pro Tip 2/3Not Bankruptcy
Receivership is different from bankruptcy, though they both deal with debt issues.
While the company was in receivership, they tried to avoid filing for bankruptcy.
Pro Tip 3/3Court-Appointed Manager
A receiver is a person the court appoints to oversee the company.
A receiver took control of the assets during the period of receivership.
Pro Tip 1/3Legal Process
Receivership is a legal process and involves the court.
Due to severe financial problems, the court ordered the company into receivership.
Pro Tip 2/3Not Bankruptcy
Receivership is different from bankruptcy, though they both deal with debt issues.
While the company was in receivership, they tried to avoid filing for bankruptcy.
Pro Tip 3/3Court-Appointed Manager
A receiver is a person the court appoints to oversee the company.
A receiver took control of the assets during the period of receivership.
Compare with
administratecontrolcustodymanagementoversightstewardshipsupervisiontrusteeship
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Quote examples
Sean Quinn
Irish Businessman
I'm a hard-nosed businessman, that if a company is paying its way, increasing profits for thirty-odd consecutive years, you don't put it into receivership.
Quote examples
Monty Don
English Celebrity
When our jewellery business went into receivership we avoided bankruptcy by selling our houses and possessions.
Quote examples
Sean Quinn
Irish Businessman
I'm a hard-nosed businessman, that if a company is paying its way, increasing profits for thirty-odd consecutive years, you don't put it into receivership.
Quote examples
Monty Don
English Celebrity
When our jewellery business went into receivership we avoided bankruptcy by selling our houses and possessions.
Example 1 of 2
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