receivership

1. (countable, uncountable)The office and duties of a receiver.

   the office of a receiver

2. (countable, uncountable)The state of being under the control of a receiver.

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

3. (countable, uncountable)A form of trusteeship of bankruptcy administration in which a receiver is appointed to run the company for the benefit of the creditors.

   Konkursverwaltung

   прее́мственностьprejémstvennostʹ

1. The company's insolvency forced it into receivership.

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