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receivership |
Also found in: Dictionary/thesaurus, Legal, Financial | 0.31 sec. |
receivershipIn law, state of being in the hands of a receiver, a person appointed by the court to administer, conserve, rehabilitate, or liquidate the assets of an insolvent corporation for the protection or relief of creditors. It is a legal solution to a financial difficulty; it does not necessarily entail the termination of the corporate charter. See also bankruptcy, insolvency. receivership Law 1. the office or function of a receiver 2. the condition of being administered by a receiver How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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