Longman Dictionary of Contemporary English homepage

receivership

 noun
     
Related topics: Companies, Finance
re‧ceiv‧er‧ship [uncountable]
BBCBF if a business is in receivership, it is controlled by an official receiver because it has no money:
The company went into receivership with massive debts.
Definition from the Longman Dictionary of Contemporary English
Advanced Learner's Dictionary.

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