Business, Legal & Accounting Glossary
n. the process of appointment by a court of a receiver to take custody of the property, business, rents and profits of a party to a lawsuit pending a final decision on disbursement or an agreement that a receiver control the financial receipts of a person who is deeply in debt (insolvent) for the benefit of creditors. Thus, the term “the business is in receivership.
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This glossary post was last updated: 30th April, 2020 | 0 Views.