receivership

[ri-see-ver-ship]

noun

Law.

1. the condition of being in the hands of a receiver.

2. the position or function of being a receiver in charge of administering the property of others.

receivership

/ rɪˈsiːvəʃɪp /

noun

1. the office or function of a receiver

2. the condition of being administered by a receiver

Word History and Origins

Origin of receivership¹

First recorded in 1475–85; receiver + -ship

Example Sentences

One of the lawsuits that Lu filed in Mauritius prompted a court there to freeze Afrinic’s bank accounts in July 2021, effectively paralyzing the organization and eventually sending it into receivership.

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The only viable solution is to place schools in “receivership,” a well-established procedure to reform ailing college departments.

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California Attorney general filed a civil case against Shangri-La Industries in January 2024 seeking the return of more than $100 million in Project Homekey funds and asking the court to place seven properties in receivership.

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“The DOJ’s request is almost literally without precedent. No state judge in California history has ever placed a correctional institution into receivership.”

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Its lender, Truist Bank, placed the distiller under receivership, alleging that it defaulted on a $26 million loan, court papers show.

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