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 ?
Meanwhile, Taiwan's satellite receiver market had a rather lackluster performance over recent years.
Offering the highest performance, smallest size and easiest-to-use receiver solution for DBS, the Si21xx devices are ideal for all free-to-air (FTA) and pay-TV DBS equipment including satellite set-top boxes, PC cards for satellite TV, DBS receivers for automotive or avionic use, DVD recorders and digital TVs with integrated satellite receivers.
Presidential Communication Operations Office Secretary Martin Andanar said on Saturday that about 42,000 satellite receivers would be set up in order to prevent the public from disinformation.
Also this year, stores will be flooded with multiple new brands of satellite receivers - from the likes of Japanese giant Panasonic to the Korean econo-brands Samsung and Goldstar - adding to the marketing hue and cry.
International Datacasting Corporation (TSX:IDC) and SES AMERICOM, an SES GLOBAL company (Euronext Paris and Luxembourg stock exchanges:SESG), today announced the integration of IDC's next-generation DVB-S2 satellite receivers aboard the IP-PRIME(TM) IPTV service.
Other factors include increasing boxes per household in North America, upgrading of boxes to offer advanced features, new service launches in Asia, and the continued demand for digital FTA satellite receivers.

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