receivership in a sentence
n.
📚 Grade Level: Grade 9, Grade 10, Grade 11, Grade 12
Definition
Receivership is a legal status in which a court appoints a receiver to manage a company's assets and operations due to its inability to meet financial obligations, ensuring proper distribution to creditors.
Crossword clues for receivership
Crossword clue ideas and answer hints for the word "receivership".
- Court-appointed management of a struggling company's assets.
- Legal status for companies failing to meet debts.
- Oversight of finances by an appointed receiver.
- Receiver manages assets during financial distress.
- Court intervention in a company's financial troubles.
Receivership sentence examples
- The company was placed in receivership after failing to meet its financial obligations.
- In receivership, the assets are managed by a court-appointed receiver to ensure fair distribution to creditors.
- The news of the hospital's receivership shocked the local community, as it had been a vital resource for many years.
- Investors were concerned that the firm’s receivership would lead to significant job losses.
- During receivership, the management team worked closely with the receiver to restructure the business effectively.