receivership
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English
Etymology
Noun
receivership (countable and uncountable, plural receiverships)
- (law) The office and duties of a receiver.
- (law) The state of being under the control of a receiver.
- 1961 February, Cecil J. Allen, “Locomotive Running Past and Present”, in Trains Illustrated, page 84:
- The capital cost in 1915-1927 of equipping 924 miles of track put the Milwaukee into a receivership from which it took a long time to recover; and in view of the length of line electrified it is surprising that a current of 1,500V d.c. was chosen rather than the Pennsylvania 11,000V a.c.
- (law, business) A form trusteeship of bankruptcy administration in which a receiver is appointed to run the company for the benefit of the creditors.
Translations
state of being under the control of a receiver
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trusteeship in bankruptcy
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