Search results
- Dictionaryreceivership/rɪˈsiːvəʃɪp/
noun
- 1. the state of being dealt with by an official receiver: "the company went into receivership last week"
Powered by Oxford Dictionaries
Jun 10, 2024 · A receivership is a court-appointed tool that can assist creditors in recovering funds in default and help troubled companies avoid bankruptcy. Having a receivership in place makes it...
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. [1] .
noun [ U ] uk / rɪˈsiːvəʃɪp / us. Add to word list. LAW. a situation in which a bankrupt company is under the control of a receiver: Within hours of the business going into receivership, a bid was made for its wholesale business.
Receivership is an extraordinary remedy, the purpose of which is to preserve property during the time needed to prosecute a lawsuit, if a danger is present that such property will be dissipated or removed from the jurisdiction of the court if a receiver is not appointed.
The meaning of RECEIVERSHIP is the office or function of a receiver. How to use receivership in a sentence.
Mar 27, 2021 · A receiver is a person appointed as custodian of a person or entity's property, finances, general assets, or business operations. Receivers can be appointed by...
receivership - The role or duty performed by a legally appointed individual or entity, known as a receiver, who manages the assets and operations of a party.
A receivership is a provisional and equitable remedy in which a neutral person called a receiver takes control of property—typically a business, business assets, or real property—that is the subject of litigation.
Receivership is a provisional remedy in which a court-appointed receiver oversees a party’s property while litigation is pending in order to preserve and protect the property.
Apr 12, 2024 · Receivership is a process through which a secured creditor or the court takes over a financially unstable company. In such situations, an independent and suitably qualified person (the receiver) takes control of some or all of a firm’s assets to safeguard creditors.
