the legal condition a company is placed in when an official receiver is appointed to investigate and manage its affairs. Glossary of Business Terms
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when a business is put under the control of a receiver, especially because it is bankrupt:
• The company has sincegone into receivership.
• The business is now threatened with receivership.
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receivership UK US /rɪˈsiːvəʃɪp/ noun [U]
► LAW a situation in which a bankrupt company is under the control of a receiver: »
Within hours of the business going into receivership, a bid was made for its wholesale business.
»collapse/fall/be forced into receivership
be in/under receivership »Many sectors of the economy have companies that are in receivership.
put/place sth in receivership »A federal judge has threatened to place the agency in receivership if improvements are not made.
buy/sell sth out of receivership »Fellow board members backed Reichmann when he bought the company out of receivership.
»administrative/court/voluntary receivership
Financial and business terms. 2012.