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Receivership |
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Receivership A type of bankruptcy a company enters when a receiver is appointed by bankruptcy courts or creditors to run the company. Notes: The responsibility of the receiver is to recoup as much of the unpaid loans as possible.Being in receivership is not an enviable situation for a company. Often receivers find that the best way to pay back loans is to liquidate the company's assets, which would effectively put it out of business. |
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