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Receivership Meaning in English

word

ɹiˈsivɝˌʃɪp/, /ɹɪˈsivɝˌʃɪp
ri-SEE-ver-ship
ɹɪsˈiːvəʃˌɪp
ri-SEE-vuh-ship

परिभाषा

Receivership is a legal situation where an outside person (a receiver) is appointed to manage and control a company or property, usually because of financial trouble or bankruptcy.

उपयोग और बारीकियां

Primarily used in business and legal contexts. Common phrases: 'go into receivership', 'placed under receivership', 'company in receivership'. Different from bankruptcy; means an outside manager runs the business to protect creditors' interests.

उदाहरण वाक्य

The company went into receivership after years of financial trouble.

basic

The court appointed a receiver to manage the business during receivership.

basic

Many jobs were saved when the company was under receivership.

basic

Their assets are frozen while they're in receivership, so they can't sell anything.

natural

If sales don't improve soon, we might face receivership next year.

natural

The bank stepped in and put the property into receivership to protect its loan.

natural