receiver

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Receiver

A bankruptcy practitioner appointed by secured creditors to oversee the repayment of debts.

Receiver

In corporate bankruptcy, a person or entity whom a court or regulator appoints as custodian to administer all assets and debts. The receiver's main 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. Some jurisdictions have a very short period during which a receiver may operate, sometimes as brief as two weeks. When a receiver has only this long, he/she usually liquidates the company.

When a receiver is appointed, the company is said to be in receivership. 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 may do it for national banks. In any federally-chartered savings and loan or bank, the FDIC must be appointed receiver.

receiver

A person assigned by a court to handle affairs and assets of a business in bankruptcy proceedings. The receiver is charged with overseeing the firm for the benefit of its creditors and stockholders.

receiver

see INSOLVENCY, LIQUIDATION.
References in periodicals archive ?
Extrusion pressure transducers and transmitters from Terwin Instruments.
PRESSURE SENSING TYPES Type Sensor [micro]P Signal Conditioning Transducer Yes No No Analog Transmitter Yes No Yes SMART Transmitter Yes Yes Yes
Although the transmitters have been used in field studies before, Brown says it is hard to know how they will affect the toads wearing them.
Schneider Launches Nautilus XMLG Pressure Transmitter II-55
To pay for his station and spread micropower, Dunifer manufactures low-cost transmitter kits and has sold about 300 in the past two years alone.
They commanded Magellan to turn off the whistling transmitter - thereby substantially cooling it - and to switch back to the faulty main transmitter, which can relay the craft's engineering data but none of the mapping information.
It did not take long for Dunifer, a longtime political activist with anti-authoritarian views, to agree to send the caller the parts to build a 30-watt transmitter hidden inside a suitcase stuffed with clothing.
With the main transmitter out of commission, switching to the backup would normally entail a relatively simple series of operations, Okerson observes.
With iCast, the user simply fits an iPod into the transmitter in an Apple[R] approved dock.
To date, the satellite has relayed information about the whale's diving habits for about seven weeks, habits that are monitored 24 hours a day by a small transmitter neatly attached to the whale's dorsal fin.
Belkin announces new accessories for the Zune digital media player, including an FM transmitter, backup battery pack, and a host of various cases.
Nasdaq:SLAB), a leader in high-performance, analog-intensive, mixed-signal ICs, today announced a highly integrated FM transmitter family offering superior audio performance in a very small 3 x 3 x 0.

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