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

The two apartment towers — Tower 100 and Tower 200 — changed hands for $79.5 million in 2016 when a private investment group out of New York, which had acquired the pair out of receivership four years earlier, sold them to Image Capital LLC, also based in New York. —Jc Reindl, Detroit Free Press, 8 Oct. 2024

Dragged by debt and with one of its co-founders behind bars on charges of corruption, embezzlement, money laundering and murder, Beximco Group has been contesting a High Court order that its assets be placed under receivership since September. —Jasmin Malik Chua, Sourcing Journal, 3 Sep. 2019

The business was sued and put under a receivership in August, according to documents from the Hamilton County Court of Common Pleas. —Keith Pandolfi, The Enquirer, 8 Oct. 2024

State of play: A Hennepin County judge on Sept. 23 put The Dayton's Project in receivership, stripping away management and operations from owner 601W Cos. of New York, according to court documents first reported by Twin Cities Business. —Nick Halter, Axios, 2 Oct. 2024

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