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receivership
(redirected from receiverships)

   Also found in: Dictionary/thesaurus, Legal, Financial 0.31 sec.

receivership

In 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


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