A form of bankruptcy in which a company can avoid liquidation by reorganizing with the help of a court-appointed trustee.

Use receivership in a sentence

You may want to try and file for receivership if you think that will be a better way to handle it than bankruptcy.

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We were allowed to have receivership which might save us and our company and our employees from having to look for work elsewhere.

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When my company went bankrupt, the court agreed to allow it to enter receivership to reorganize without going out of business and selling off all our assets.

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