Home >  Blossary: Financial contracts  >  Term: receivership
receivership

The appointment of a licensed insolvency practitioner to take over the running of a company. A creditor with a secured debt appoints the receiver. The job of the receiver is to recover the debt either by taking the security and selling it or by running the business as a going concern until the debt is paid off (see liquidation).

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  • Part of Speech: noun
  • Industry/Domain: Law
  • Category: Contracts

Financial contracts

Category: Law

Total terms: 14

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