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In law, receivership is a situation in which an institution or enterprise is held by a receiver – a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights" – especially in cases where a company cannot meet its financial obligations and is said to be insolvent. [1]
A receivership is a court order to restructure debt, placing control of the company under a receivership. The principals of the company will stay in place and retain their titles, but likely will ...
In voluntary administrative receivership, the administrator is appointed by the company directors. In involuntary administrative receivership, the administrator is appointed by a judicial court. The legal terms for these processes vary from country to country, and the processes may overlap.
Whereas a receiver is expected to terminate the rights of shareholders and managers, a conservator is expected merely to assume those rights, with the prospect that they will be relinquished. [8] Robert Ramsey and John Head, law professors who both specialise in financial issues, suggest that an insolvent bank should go into receivership rather ...
What does receivership mean for Providence Place mall? In a receivership, the court appoints an independent “receiver” or trustee to oversee a troubled company’s business and is given great ...
A disassembled Mauser action showing a partially disassembled receiver and bolt. In firearms terminology and at law, the firearm frame or receiver is the part of a firearm which integrates other components by providing housing for internal action components such as the hammer, bolt or breechblock, firing pin and extractor, and has threaded interfaces for externally attaching ("receiving ...
It has been suggested that the speaker or writer should either say technical insolvency or actual insolvency in order to always be clear – where technical insolvency is a synonym for balance sheet insolvency, which means that its liabilities are greater than its assets, and actual insolvency is a synonym for the first definition of insolvency ...
Receiver, a person who receives goods in a distribution center; Receiver, in receivership, a person appointed as a custodian of another entity's property by a court of law or a creditor of the owner, pending a lawsuit or bankruptcy; Metropolitan Police Receiver, formerly the chief financial officer of the London Metropolitan Police