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receivership definition - finance
An administrative stage in which a company that is in the midst of bankruptcy proceedings attempts to put its affairs in order with the help of a court-appointed trustee. A company is said to be in receivership if it is attempting to avoid liquidation.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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