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Receivership |
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Receivership In corporate bankruptcy, a situation in which a court or regulator appoints a custodian to administer all assets and debts. This custodian is known as a receiver; his/her duty is to pay off as many debts as possible as cheaply as possible. One obvious way to do this is to liquidate the company, but this is not always done. The receiver may restructure the company to put it on a path toward solvency. In the United States, different financial regulators have the authority to decide whether receiverships are necessary. The Office of Thrift Supervision may do this for savings and loans; the Office of the Comptroller of the Currency for national banks. In any federally-chartered savings and loan or bank, the FDIC must be appointed receiver. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| ? Mentioned in | ? References in periodicals archive | ||
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| Bryson attributed the quarterly loss to a charge of $77 million, or
24 cents a share, for Edison Mission Energy's Lakeland project,
which was placed into administrative receivership in the United Kingdom.
Pivotal Games Limited was placed into administrative receivership on 5
September 2003 following the appointment of an administrative receiver. It is Fitch's current understanding, based on very limited
information, that if the restructuring proposal is rejected, this means
that WBGL would be unable to make the full payment on the interest
payment date on March 1 this year unless the issuer enters
administration or administrative receivership (in which case, Investcorp
will provide the necessary funds). |
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