Temporary Management
/ˈtɛmpəˌrɛri ˈmænɪdʒmənt/
Definitions
- (n.) A legal arrangement whereby an entity or individual temporarily assumes control over another entity's management, often during insolvency or corporate transition.
The court appointed a temporary management team to oversee the company during restructuring.
Forms
- temporary management
Related terms
See also
Commentary
Temporary management is typically employed to maintain continuity and protect stakeholder interests during periods of uncertainty such as bankruptcy or ownership changes.
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.