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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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| HIGH PERFORMANCE Vertu chief Robert Forrester snapped up a Midlands chain yesterday, the day it went into administrative receivership. While housing authorities under administrative receiverships have also made improvements, some still demonstrated a significant problem with housing units in very poor physical condition. Pivotal Games Limited was placed into administrative receivership on 5 September 2003 following the appointment of an administrative receiver. |
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