Receivership - Meaning, Definition & English Examples
Receivership is a legal process where a receiver is appointed to manage a company’s assets, typically during financial distress, to protect creditors’ interests or facilitate restructuring.
Definition:
A legal state where a company's assets are managed by a receiver due to insolvency.
Synonyms:
administration, bankruptcy, liquidation, insolvency
Part of Speech:
noun
Antonyms:
solvency, profitability
Common Collocations:
enter receivership, place in receivership, under receivership, file for receivership
Derivatives:
receiver, receive
Usage Tips:
Use "receivership" to describe a company's financial state when controlled by a court-appointed receiver.
Common Phrases:
go into receivership, forced into receivership, emerge from receivership
Etymology:
Derived from "receiver," from Old French *receivre*, and "-ship," denoting state or condition.
Examples:
- 1. The company entered receivership after failing to pay its debts.
- 2. The court appointed a manager to oversee the business during receivership.
- 3. Many employees lost their jobs when the firm went into receivership.
- 4. The store hopes to emerge from receivership next year.