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A debt instrument issued by a receiver and serving as a lien on the property, which provides funding to continue operations or to protect assets in receivership.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
A short-term debt security issued by a receiver (or party appointed by secured creditors in a bankruptcy) to finance his activities during bankruptcy proceedings. Despite the fact that they involve bankruptcy, receiver's certificates are low risk because they are secured by the same assets to which the secured creditors hold liens.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
The short-term debt that is issued by the receiver of a firm in bankruptcy proceedings. Receivers' certificates are of high quality because they have first claim on the bankrupt firm's assets.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.