receivership
/rɪˈsiːvəʃɪp/ noun [U]Definition
› LAW a situation in which a bankrupt company is under the control of a receiver: Within hours of the business going into receivership, a bid was made for its wholesale business. collapse/fall/be forced into receivershipbe in/under receivership Many sectors of the economy have companies that are in receivership.put/place sth in receivership A federal judge has threatened to place the agency in receivership if improvements are not made.buy/sell sth out of receivership Fellow board members backed Reichmann when he bought the company out of receivership. administrative/court/voluntary receivership
(Definition of receivership noun from the Cambridge Business English Dictionary
© Cambridge University Press)
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