RECEIVERSHIP


Meaning of RECEIVERSHIP in English

In law, state of being in the hands of a receiver, a person appointed by the court to administer, conserve, rehabilitate, or liquidate the assets of an insolvent corporation for the protection or relief of creditors.

It is a legal solution to a financial difficulty; it does not necessarily entail the termination of the corporate charter. See also bankruptcy , insolvency .

Britannica English dictionary.      Английский словарь Британика.