receivership

/ri'si:vəʃip/

Thân thiện

The company entered receivership to protect its remaining assets.

Definition

1. Noun:
   • The office or function of a receiver: The position or duties of a receiver, who is a person appointed to manage the property or financial affairs of another, especially of a bankrupt company.
   • A court action placing property under a receiver's control: A legal process in which a court appoints a receiver to take control of property or a business during a lawsuit to preserve it for the benefit of all parties involved.
   • The state of being under a receiver's control: The condition of a company or property that is being managed by a court-appointed receiver, often due to financial distress.

Usage Examples

• Noun:
  • The judge ordered the company into receivership to protect its remaining assets.
  • He was appointed to the receivership of the insolvent firm.
  • The property remained in receivership until the legal dispute was resolved.

Advanced Usage

• "To go into receivership": To enter the state of being under the control of a receiver, typically due to insolvency.
  • The struggling retail chain was forced to go into receivership.
• "To be placed in receivership": To be put under a receiver's control by a court order.
  • The assets were placed in receivership pending the outcome of the fraud investigation.

Variants and Related Words

• Receiver (n): A person appointed to manage the affairs, property, or assets of another, especially by a court.
  • The court appointed an independent receiver.
• Receiverships (n, plural): The plural form, referring to multiple instances or states of receivership.
  • The law firm specialized in corporate receiverships.

Synonyms

• Administration (in a legal/financial context): A process similar to receivership for managing a company's affairs.
• Conservatorship: A legal status where a conservator is appointed to manage the affairs of an individual or entity, often with some conceptual overlap.
• Custodianship: The position of being responsible for guarding or maintaining property.

Related Phrases

• "In the hands of the receiver": A phrase describing property or a business under a receiver's control.
  • All company accounts are now in the hands of the receiver.

Học thuật

Noun

1. the office of a receiver
2. 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. the state of property that is in the hands of a receiver
   • the business is in receivership