Receivership
Pronunciation: /rɪˈsiːvərˌʃɪp/
Receivership (noun)
- A situation where a court appoints someone to manage a company or property that is in financial trouble.
Examples
- The company entered receivership to manage its financial difficulties.
- The company went into receivership due to financial problems.
Common collocations: enter receivership, file for receivership, put into receivership