In law, state of being in the hands of a receiver, a person appointed by the court to administer, conserve, rehabilitate, or liquidate the assets of an insolvent corporation for the protection or relief of creditors. It is a legal solution to a financial difficulty; it does not necessarily entail the termination of the corporate charter. Seealso bankruptcy, insolvency.
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Receivership is used to denote a situation in which an institution or enterprise is being held by a receiver.