receivership |
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Definition
State of being under the administration and control of a receiver. Receivership removes the property or business from the control of its owners (stock/shareholders), and the firm's directors lose their powers to the receiver who stops dividend and interest payments. A firm in receivership must carry the notice of 'In Receivership' on all its stationery and official documents.
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receivership is in the Corporate, Commercial, & General Law subject.
receivership appears in the definitions of the following terms: official receiver, administrative receiver and reorganization
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