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English definition of “receiver”

receiver

noun [C]   /rɪˈsiːvər/
(also UK official receiver) LAW, FINANCE someone who is asked by a court of law to officially close a bankrupt company by selling its assets, paying as many of its debts as possible, etc.: receivers of/for sth The receivers of the collapsed UK construction giant have failed with a legal bid to recoup more than £400,000 on behalf of the company's many creditors. In the current harsh economic climate, many small businesses have found themselves in the hands of the receiver. About 200 jobs were put at risk yesterday after the group called in the receivers. A receiver was appointed to track down the assets and redistribute them to investors. an administrative/court-appointed/interim receiver
(Definition of receiver noun from the Cambridge Business English Dictionary © Cambridge University Press)
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