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  2. Dictionary

    re·ceiv·er·ship
    [rəˈsēvərˌSHip]
    noun
    receivership (noun) · receiverships (plural noun)
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    What is a receivership in bankruptcy?Receivership is a form of bankruptcy in which a court-appointed trustee reorganizes the bankrupt entity. How Does Receivership Work? 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.
    What does receivership mean in law?In law, receivership is a situation in which an institution or enterprise is held by a receiver – a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights" – especially in cases where a company cannot meet its financial obligations and is said to be insolvent.
    en.wikipedia.org
    How does a receivership work?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 Does Receivership Matter?
    What happens if a company is in receivership?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.
     
  4. Receivership: What It Is, How It Works, vs. Bankruptcy

     
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