Meaning of “receivership” in the English Dictionary

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"receivership" in British English

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receivershipnoun [ U ]

uk /rɪˈsiː.və.ʃɪp/ us /rɪˈsiː.vɚ.ʃɪp/

(Definition of “receivership” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"receivership" in Business English

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receivershipnoun [ U ]

uk /rɪˈsiːvəʃɪp/ us

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 receivership
be 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.

(Definition of “receivership” from the Cambridge Business English Dictionary © Cambridge University Press)

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