receivership
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.
Mentioned in these definitions
Popular 'Corporate, Commercial, & General Law' Terms
receivership in the news
Loading...
This content can be found on the following page:
http://www.businessdictionary.com/definition/receivership.html
