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receiverships

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Definitions of receiverships in various dictionaries:

noun - the state of property that is in the hands of a receiver

noun - a court action that places property under the control of a receiver during litigation so that it can be preserved for the benefit of all

noun - the office of a receiver

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Possible Dictionary Clues
Plural form of receivership.
the state of being dealt with by an official receiver.

Receiverships description
In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in cases where a company cannot meet financial obligations or enters bankruptcy. The receivership remedy is an equitable remedy that emerged in the English chancery courts, where receivers were appointed to protect real property. Receiverships are also a remedy of last resort in litigation involving the conduct of executive agencies that fail to comply with constitutional or statutory obligations to populations that rely on those agencies for their basic human rights.Receiverships can be broadly divided into two types: * Those related to insolvency or enforcement of a security interest. * Those where either * A person is Incapable of managing their affairs and so the court appoints a receiver to manage the property on their behalf—for example a receiver appointed by a Court of Protection under mental health legislation (in some jurisdictions, called conservatorship). * The Government seizes control of property due to breaches of law or regulation.Receiverships relating to insolvency are subdivided into two further categories: administrative receivership, where the receiver is appointed wide management powers over all or most of the property of a business, and other receiverships (sometimes misleadingly called fixed charge receiverships) where the receiver has limited control over specific property, with no broader powers beyond managing or selling the individual asset. * Receivers are appointed in different ways: * Government regulator appointed * Privately appointed * Court-appointedThe receiver's powers "flow from the document(s) underlying his appointment"—i.e., a statute, financing agreement, or court order.

Receiverships description

In law, receivership is a situation in which an institution or enterprise is held by a receiver—a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights"—especially in cases where a company cannot meet financial obligations or enters bankruptcy. The receivership remedy is an equitable remedy that emerged in the English chancery courts, where receivers were appointed to protect real property. Receiverships are also a remedy of last resort in litigation involving the conduct of executive agencies that fail to comply with constitutional or statutory obligations to populations that rely on those agencies for their basic human rights.Receiverships can be broadly divided into two types: * Those related to insolvency or enforcement of a security interest.
* Those where either
* A person is Incapable of managing their affairs and so the court appoints a receiver to manage the property on their behalf—for example a receiver appointed by a Court of Protection under mental health legislation (in some jurisdictions, called conservatorship).
* The Government seizes control of property due to breaches of law or regulation.Receiverships relating to insolvency are subdivided into two further categories: administrative receivership, where the receiver is appointed wide management powers over all or most of the property of a business, and other receiverships (sometimes misleadingly called fixed charge receiverships) where the receiver has limited control over specific property, with no broader powers beyond managing or selling the individual asset.
* Receivers are appointed in different ways:
* Government regulator appointed
* Privately appointed
* Court-appointedThe receiver's powers "flow from the document(s) underlying his appointment"—i.e., a statute, financing agreement, or court order.

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