Definitions of "receivership"
  1. The role or duty performed by a legally appointed individual or entity, known as a receiver, who manages the assets and operations of a party
  2. A legal process where a receiver is officially designated to handle the property or income of an individual or corporation
  3. The condition where one's property or assets are placed under the control and management of a court-appointed receiver
How to use "receivership" in a sentence
  1. Because of the company's significant debt, it was put into receivership to manage its assets more effectively.
  2. After being in receivership for a year, the business started showing signs of recovery.
  3. The court assessed the situation and decided receivership was the best option for dealing with the bankrupt party's assets.

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