WordUpWordup

Receivership

usgb/rɪˈsiːvərʃɪp/Volume
Left Definition 1 of 1Right
LampPro Tip 1/3
Legal ProcessPlay
Receivership is a legal process and involves the court. SlideDue to severe financial problems, the court ordered the company into receivership.
LampPro Tip 2/3
Not BankruptcyPlay
Receivership is different from bankruptcy, though they both deal with debt issues. SlideWhile the company was in receivership, they tried to avoid filing for bankruptcy.
LampPro Tip 3/3
Court-Appointed ManagerPlay
A receiver is a person the court appoints to oversee the company. SlideA receiver took control of the assets during the period of receivership.