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.
References in periodicals archive ?
By forcing equity receiverships to accommodate the interests
FHFA's proposal would establish a framework for conservatorship and receivership operations for Fannie Mae, Freddie Mac and the Federal Home Loan Banks, under the Housing and Economic Recovery Act of 2008 (HERA).
The number of firms going into receivership also rose in the first six months of this year, with receivers appointed to 118 companies.
Active receiverships necessarily contemplate a broad array of powers for the receiver's disposal.
Both Arnolds said they expect the receivership system to result in significant savings for condo associations.
In many ways, managing a property' in receivership or foreclosure is comparable to managing any takeover.
A bank trying to recover lost assets will appoint a surveyor, which shows up as a receivership.
Mr Hughes is a council member of the Non-Administrative Receivers Association (NARA), which comprises specialists in fixed charge receiverships.
One hundred and eighteen NZNO members work in the six New Zealand Lifecare Investments Ltd aged-care facilities placed in receivership Last month.
Within three years, state regulators took over all three and placed them into receivership.
In particular, I examine how railroad receiverships addressed the problems of holdouts and individual creditor action--the key stumbling blocks for most approaches to sovereign debt restructuring.