См. также: recognition and enforcement of judgments, recommendation letter, recyclables, reconsider one's position on the death penalty
official receiver. Independent, impartial party appointed by a bankruptcy court as an interim receiver and manager of the property to which debt is charged. He or she presides over the creditors' meetings in examination of the property in receivership and often, when winding-up order is issued by the court, serves as a provisional liquidator. (BusinessDictionary)
Indeed, the Defendants have consented to the appointment of a receiver and the commencement of receivership proceedings. (The Farmer's Exchange)
receivership. The situation when a company has defaulted on its obligations, and a receiver is appointed to use the company's assets to pay off the creditors. (Oxford Reference)
Administration’s primary goal is to help the company pay off their debts, thus avoiding entering liquidation – at least in the first instance. Receivership works to realise the assets of a company, to maximise the benefit for the secured creditors. Receivership will usually result in the company also entering liquidation at the same time. (Business Rescue Expert)
• receivership
• receiverships
