Definition & Meaning | English word RECEIVERSHIP

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Definitions of RECEIVERSHIP

1. (legal) The office and duties of a receiver.
2. (legal) The state of being under the control of a receiver.
3. (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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Examples of Using RECEIVERSHIP in a Sentence

• Waterford is known for its former glassmaking industry, including at the Waterford Crystal factory, with decorative glass being manufactured in the city from 1783 until early 2009 when the factory closed following the receivership of Waterford Wedgwood plc.
• Receiver, in receivership, a person appointed as a custodian of another entity's property by a court of law or a creditor of the owner, pending a lawsuit or bankruptcy.
• The CA&S was placed in receivership on August 5, 1931, and incremental abandonment occurred over subsequent years.
• The receivership would last until August 1990, but the city's finances were monitored by the state of Michigan for another ten years.
• A panic took place in 1902, the bank failed (the depositors were paid in full later) and the brickyards were forced into receivership.
• On September 25, 2008, the United States Office of Thrift Supervision (OTS) seized WaMu's banking operations and placed it into receivership with the Federal Deposit Insurance Corporation (FDIC).
• When MGT went into receivership in June 1990 two further attempts were made to restart the computer and brand, firstly under SAM Computers Limited and then in November 1992 under West Coast Computers, a company spun from Format Publications which lasted until liquidation in 2005.
• Hatters Holdings, now majority-owned by a combination of Trust in Luton and prominent supporter spokesman Gary Sweet, deliberately placed the club into administrative receivership on 14 July 2003 to successfully force out John Gurney after a turbulent 55 days in charge.
• After PAL's exit from receivership in 2007, the airline has frequently revamped its management, seeking to re-establish itself as one of Asia's premier carriers.
• On March 3, 1933, the newspaper was placed under federal receivership, and Ashland City attorney and former Tennessean editorial writer Littleton J.
• The BBJ reported that the Baltimore Circuit Court had appointed IVL Group, LLC of Montclair, NJ to manage, maintain, lease, provide security for Harborplace, the receivership order also authorizes IVL Group to seek a new buyer.
• Securities and Exchange Commission sued to place WCC in receivership on the grounds of serious malfeasance by Smith, plus the outside auditors withdrew their certification of Air California's accounts for 1971 and 1972, and those of WCC for 1971.
• As a result of the financial panic of 1857, the M&M went into receivership in 1859, and was purchased by the Milwaukee and Prairie du Chien Railroad in 1861.
• Kissel prospered after the war but with stiff competition and the Great Depression, mounting losses, and an attempted hostile take-over by New Era Motors' president Archie Andrews, forced Kissel to file for receivership protection in November 1930.
• When Wolves went into receivership later that year, Hayward was reportedly behind one of the offers being tabled to save the club, but it was ultimately bought by the Bhatti brothers in an unsuccessful rescue attempt fronted by former Wolves player Derek Dougan.
• Former operator Padarn Bus, which went into receivership in 2014, was based in the town and ran several routes to it, including a number of open-top routes.
• In law, receivership is a situation in which an institution or enterprise is held by a receiver – a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights" – especially in cases where a company cannot meet its financial obligations and is said to be insolvent.
• In 1964, Hornby and Meccano were bought by their competitor, Tri-ang Railways, and sold when Tri-ang went into receivership.
• According to the Landsbanki Receivership's initial interpretation of the Icelandic law, the creditor claims in foreign currency towards a liquidated Icelandic financial company in receivership should only be repaid by an ISK-equivalent amount as per the currency exchange rate registered on the date when winding-up proceedings were initiated; which was as per 22 April 2009 for the Landsbanki receivership.
• Interest in the development was limited, due to the slump in the housing market, and in July 2008, City Lofts was forced to place all its unsold apartments, including many at Salford Quays, into receivership.
• The firm went into receivership in July 1906 with Daniell J Driscoll appointed receiver by the Court.
• A dispute with the casino's creditors ensued, as they tried to take control of its assets by receivership, under the terms of the bond indenture.
• In early 2004-05, Manitoba's labour-managed Crocus Investment Fund stopped trading and was forced into receivership after reports that it had misled shareholders and overstated the values of its assets.
• Investors had overexpanded the nation's trackage, so by late 1915 fully one-sixth of the railroad trackage in the country belonged to roads in receivership (bankruptcy).
• Clerys was bought out by Gordon Brothers, and split into a property-holding and an operating company, after being placed in receivership on 17 September 2012; joint receivers Paul McCann and Michael McAteer of Grant Thornton said the store’s future could be secured, and it did indeed operate for several years after this.

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