receivership

  1. Noun.  (legal) The office and duties of a receiver.
  2. Noun.  (legal) The state of being under the control of a receiver.
  3. Noun.  (legal, business) A form trusteeship of bankruptcy administration in which a receiver is appointed to run the company for the benefit of the creditors.

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This entry was last updated on RefTopia from its source on 3/20/2012.