receivership

noun

re·​ceiv·​er·​ship ri-ˈsē-vər-ˌship 

1

: the office or function of a receiver

2

: the state of being in the hands of a receiver

Examples of receivership in a Sentence

Years of financial difficulty eventually placed the company into receivership.

Recent Examples on the Web

Lawyers now want the police department placed into receivership, per the Oaklandside. —Isaac Avilucea, Axios, 7 Dec. 2024

But late last week came some sad news for one of these distilleries: Waterford Whisky announced that is going into receivership, and will very likely be closing for good in the coming weeks. —Jonah Flicker, Robb Report, 2 Dec. 2024

The French haute couture brand’s operating company Impasse 13 has gone into receivership to enable the financial restructuring. —Joelle Diderich, WWD, 29 Nov. 2024

Related Stories Earlier this month, the chamber judge of the Appellate Division declined to overturn the High Court’s order to place Beximco Group under receivership following a petition from Beximco Pharmaceuticals. —Jasmin Malik Chua, Sourcing Journal, 3 Sep. 2019

Word History

First Known Use

15th century, in the meaning defined at sense 1

Kids Definition

receivership

noun

re·​ceiv·​er·​ship ri-ˈsē-vər-ˌship 

1

: the office or role of a receiver

2

: the state of being in the control of a receiver

Legal Definition

receivership

noun

re·​ceiv·​er·​ship ri-ˈsē-vər-ˌship 

1

: the office or function of a receiver

2

: a proceeding in which a receiver is appointed

3

: the state of being in the hands of a receiver compare bankruptcy