Receivership meaning

rĭ-sēvər-shĭp
The office or functions of a receiver.
noun
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The state of being held by a receiver.

The company went into receivership.

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(law) The duties or office of a receiver.
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The state of being administered or held by a receiver.
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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.
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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.
noun
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(law) The office and duties of a receiver.
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(law) The state of being under the control of a receiver.
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(law, business) A form trusteeship of bankruptcy administration in which a receiver is appointed to run the company for the benefit of the creditors.
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Origin of receivership