Definition of receivership in US English:

receivership

noun

  • The state of being dealt with by an official receiver.

    ‘the company went into receivership last week’
    • ‘That tenant failed to pay the rent and went into administrative receivership in October 1999.’
    • ‘The club was placed in receivership in April after it failed to keep up with mortgage payments.’
    • ‘It employed over 80 people at its peak, but went into receivership after running out of money.’
    • ‘The same firm was placed in receivership a week ago after efforts to sort out its modest financial problems failed.’
    • ‘The new year is barely four days old, and two distributors have already gone into administrative receivership.’
    • ‘It then went into receivership and as a result he was robbed of his pension.’
    • ‘This meant that even if the company went into receivership, the trademark would still belong to the family.’
    • ‘Staff were told the company had been placed in administrative receivership in June 2001.’
    • ‘They want to know that the company that they deal with today will not go into receivership tomorrow.’
    • ‘The 92-bedroom hotel was put into receivership in March and then put up for tender.’
    • ‘The sector provides plenty of work for administrators, with many clubs perennial candidates for receivership.’
    • ‘It was placed into administrative receivership earlier this week.’
    • ‘The costs associated with receivership would have reduced the funds available for distribution.’
    • ‘When a company goes into receivership, a receiver is appointed to try to keep the company running.’
    • ‘The businesses were promptly shut down by court order and placed in receivership.’
    • ‘Cooney sells equipment for a number of Dublin insolvency practitioners who deal with technology company receiverships or liquidations.’
    • ‘The company says if a rescue package is not agreed soon, it will face liquidation or receivership within three weeks.’
    • ‘The group went into receivership on 27 August and Mr Wright was made redundant on that date.’
    • ‘The firm has been placed into receivership with debts of more than $20 million.’
    • ‘The pit is now producing 10,000 tonnes of coal a week, which is 2,000 more than before the mine went into receivership.’
    poverty, penury, destitution, ruin, ruination, indigence, impecuniousness, impoverishment, need, neediness, privation, want, hardship, distress, difficulties, dire straits, reduced circumstances, straitened circumstances, mendicancy, vagrancy
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Pronunciation

receivership

/rəˈsivərˌʃɪp//rəˈsēvərˌSHip/