receivership Meaning and Definition
1. n. the office of a receiver
2. n. a court action that places property under the control of a receiver during litigation so that it can be preserved for the benefit of all
3. n. the state of property that is in the hands of a receiver
In law, receivership is the situation in which an institution or enterprise is being 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 or enters bankruptcy.
Antonyms solvent
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