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receivership Definition

re·ceiv·er·ship (-s̸hip′)

noun

  1. Law the duties or office of a receiver
  2. the state of being administered or held by a receiver

receivership Finance Definition

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.

receivership Law Definition

n

The situation of being in the control of a receiver; functioning as a corporate- or court-appointed receiver; the proceeding at which a receiver is appointed by the court. See also bankruptcy.

receivership Usage Examples

Preposition: of

company: However events, not least the General Strike and its associated prolonged coal strike and the receivership of both colliery companies, intervened.

Converse of object

  • include: We can help you with looking after the affairs of relatives who are unable to manage their own affairs, including Receiverships.
  • abolish: The Enterprise Act 2002, which is expected to come into force in mid 2003, abolishes administrative receiverships for new security.
  • see: Indeed the large number of receiverships seen in the early 1990's have now fallen dramatically as banks strive to help viable companies survive.

Adjective modifier

  • administrative: The company went into administrative receivership on 26 September 2002.
  • private: Interest rates are low, stock markets are rising and the total number of private equity receiverships fell in 2005.
  • fixed: Support for Banks and other Mortgagees We can offer lenders expert and strategic advice on all aspects of property-based recovery and fixed charge receivership.
  • royal: In 1291 Fountains had debts amounting to almost £ 7000 and the abbey was once again taken into royal receivership.
  • voluntary: Fast Track went into voluntary receivership in March 1998.

Modifies a noun

  • appointment: We believe this was because most administrative receivership appointments are made with the support of the company's directors.
  • order: A receivership order may be made in respect of one or more cells.
  • account: Account Fee This fee covers the cost of collecting and passing receivership accounts and from 1 April 2005 is £ 100.
  • application: In what circumstances should a receivership application be made?
  • case: At 31 March 1999 the recorded debt for private receivership cases was more than £ 2.7 million.
  • fee: The Public Trust Office provides for bad debts on private receivership fees only where the patient has been deceased for three years.

Noun used with modifier

charge: Support for Banks and other Mortgagees We can offer lenders expert and strategic advice on all aspects of property-based recovery and fixed charge receivership.