receivership

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receivership

Law
1. the office or function of a receiver
2. the condition of being administered by a receiver
References in periodicals archive ?
Creditors will have much greater control over the process and outcome of the administration than they currently have in an administrative receivership.
One of the changes brought about by the Enterprise Act 2002 was the restriction on use of administrative receivership and the promotion of new-style administrations.
Mark Orton from KPMG said: ``The refinancing of the business allowed the company to be taken out of administrative receivership, saving 369 jobs.
The parent company, Manchester-based Brand Holdings Ltd, went into administrative receivership last month.
Once listed on the Ofex exchange, Coinmaster went into administrative receivership in March.
The company has been put into administrative receivership by a creditor while awaiting American investment hit by the September 11 terrorist attacks.
QSP, headquartered in Newcastle, United Kingdom, with offices throughout the world, was a global provider of financial systems to global 2000 companies and was placed in administrative receivership on October 17, 2001.
Employees at Birminghambased Tufnol face an uncertain future after the company was placed into administrative receivership following a drop in trade.
Mark Orton from KPMG said: "The refinancing of the business allowed the company to be taken out of administrative receivership, saving 369 jobs.
Plus Fixings was placed into administrative receivership in May 2002 with estimated debts of pounds 343,777.
Lakeland - a subsidiary of Edison Mission Energy - was placed in administrative receivership in December after it was forced to find other buyers for its electricity when customer TXU, the troubled power group, ran into difficulties.
This ended months of uncertainty for 579 Teesside workers and today a public notice appeared explaining that ETOL had gone into administrative receivership.

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