Receivership: meaning, definitions and examples
🏛️
receivership
[ rɪˈsiː vər ʃɪp ]
legal context
Receivership is a legal process in which a receiver is appointed by a court to manage the assets and liabilities of a company or individual that is in financial distress. This process can protect the interests of creditors and facilitate the rehabilitation or liquidation of the entity in question.
Synonyms
administration, bankruptcy, liquidation
Examples of usage
- The company was placed into receivership to pay off its creditors.
- In receivership, the judge oversees the management of the company's assets.
- The sudden receivership surprised many stakeholders of the firm.
Translations
Translations of the word "receivership" in other languages:
🇵🇹 recepção
🇮🇳 स्वीकृति
🇩🇪 Zwangsverwaltung
🇮🇩 penerimaan
🇺🇦 управління майном
🇵🇱 nadzór sądowy
🇯🇵 受託
🇫🇷 réception
🇪🇸 recepción
🇹🇷 alım
🇰🇷 수신
🇸🇦 استلام
🇨🇿 správa
🇸🇰 správa
🇨🇳 接收
🇸🇮 sprejem
🇮🇸 móttaka
🇰🇿 қабылдау
🇬🇪 მიღება
🇦🇿 qəbul
🇲🇽 recepción
Word origin
The term 'receivership' dates back to the early 19th century, deriving from the word 'receiver', which comes from the Latin word 'recipere', meaning 'to take back' or 'to receive'. This legal concept emerged as courts began to appoint receivers to oversee assets of financially troubled entities, ensuring that creditor interests were protected. With the rise of industrialization and increased commercial activity, the usage of receivership became more prevalent, especially in cases of insolvency. It has evolved over time, adapting to various legal systems and cultural contexts, with receivers being appointed in both corporate and personal bankruptcy cases. The concept reflects a balance between the rights of creditors and the need for a structured process to resolve financial difficulties.