Receivership
/ˈriːsɪvərʃɪp/
Definitions
- (n.) A legal process in which a receiver is appointed to manage the property, finances, or operations of a troubled entity.
The court placed the company under receivership to protect creditors' interests.
Related terms
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Commentary
Receivership usually involves court appointment and is distinct from bankruptcy, focusing on asset management rather than debt discharge.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.