receivership

Meanings

Plural: receiverships

Noun

• the state of property that is in the hands of a receiver
  • "the business is in receivership"
• a court action that places property under the control of a receiver during litigation so that it can be preserved for the benefit of all
• the office of a receiver
• The office and duties of a receiver.
• The state of being under the control of a receiver.
• A form trusteeship of bankruptcy administration in which a receiver is appointed to run the company for the benefit of the creditors.