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

But the two-story, 1.1-million-square-foot mall fell into receivership in 2021 after failing to pay its debts. —Catherine Muccigrosso, Charlotte Observer, 16 Jan. 2025

The Isaac Elementary School District in west Phoenix will be placed into state receivership after running up a budget deficit of at least $12 million. —Axios Phoenix, Axios, 16 Jan. 2025

Freeman and Moss's legal team will continue to seek other assets, including those he has been ordered to transfer to a receivership. —Dan Perry, Newsweek, 2 Jan. 2025

In 2000, the company, which had recently ended its operations in Rhode Island, was put into a temporary receivership with the state of Massachusetts. —Daniel Libit, Sportico.com, 17 Dec. 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