receivership

noun

re·​ceiv·​er·​ship ri-ˈsē-vər-ˌship 

1

: the office or function of a receiver

2

: the state of being in the hands of a receiver

Examples of receivership in a Sentence

Years of financial difficulty eventually placed the company into receivership.

Recent Examples on the Web

In the meantime, the lack of compliance could result in the county jail being placed into receivership. —Theresa Clift, Sacramento Bee, 18 June 2024

The company went into receivership in 1962 as competition from grocery stores with lower prices mounted, according to IndyStar archives. —Domenica Bongiovanni, The Indianapolis Star, 6 June 2024

In states with hospital receivership, a receiver may be appointed if the health department revokes a facility’s license or if a hospital’s administrators request receivership and the court finds there is a serious threat to the health and safety of patients. —Dave Altimari, Hartford Courant, 6 Mar. 2024

Ultimately Shangri-La defaulted on payments, sending the projects into receivership and, eventually, foreclosure. —Doug Smith, Los Angeles Times, 7 June 2024

Word History

First Known Use

15th century, in the meaning defined at sense 1

Kids Definition

receivership

noun

re·​ceiv·​er·​ship ri-ˈsē-vər-ˌship 

1

: the office or role of a receiver

2

: the state of being in the control of a receiver

Legal Definition

receivership

noun

re·​ceiv·​er·​ship ri-ˈsē-vər-ˌship 

1

: the office or function of a receiver

2

: a proceeding in which a receiver is appointed

3

: the state of being in the hands of a receiver compare bankruptcy