In the United States, a legal condition under which a state insurance commissioner takes control of and administers a financially impaired insurer's assets and liabilities Also known as conservatorship
Dealing with legal problems that arise when a creditor has appointed a receiver to run a company's business with a view to clearing debts owed to the person making the appointment
the office of a receiver a court action that places property under the control of a receiver during litigation so that it can be preserved for the benefit of all the state of property that is in the hands of a receiver; "the business is in receivership
Legal or equitable proceeding in which a receiver is appointed for an insolvent corporation, partnership, or individual to preserve its assets for benefit of affected parties
If a company goes into receivership, it faces financial failure and the administration of its business is handled by the receiver. The company has now gone into receivership with debts of several million. if a business is in receivership, it is controlled by an official receiver because it has no money. In law, state of being in the hands of a receiver, a person appointed by the court to administer, conserve, rehabilitate, or liquidate the assets of an insolvent corporation for the protection or relief of creditors. It is a legal solution to a financial difficulty; it does not necessarily entail the termination of the corporate charter. See also bankruptcy, insolvency
The condition a person or firm is said to be in when a court appoints someone (the receiver) to administer the affairs of that person or firm because he, she or it is unable to meet debts as they mature The receiver administers matters until a decision is made to reorganize or to liquidate If the decision by the court or by the owners is to liquidate, the receiver carries out the liquidation, although his or her title is changed to trustee in bankruptcy
Legal or equitable proceeding in which a receiver is appointed for an insolvent corporation, partnership or individual (Source: Black's Law Dictionary, Fifth Edition)