Word
receivership
Phoneticsre·ceiver·ship
US/ɹiˈsivɝˌʃɪp/
UK/ɹɪsˈiːvəʃˌɪp/
Uncountable noun
Definition
n. a legal process where a company is taken over by a court-appointed person to manage its debts and assets. This usually happens when a business cannot pay its bills.
n. a legal status in which a company is placed under the control of a court-appointed official to manage its assets and debts. Often used in the context of corporate insolvency or bankruptcy proceedings.
Examples
“The company entered receivership after failing to pay its suppliers.”
“When the bank refused to extend the loan, the struggling retailer was forced into receivership to protect its remaining assets.”
“The transition into receivership allows the court to appoint a neutral third party who can assess the company's liabilities and determine whether a restructuring is feasible or if liquidation is necessary.”
Examples
simple
“The company entered receivership after failing to pay its suppliers.”
contextual
“When the bank refused to extend the loan, the struggling retailer was forced into receivership to protect its remaining assets.”
complex
“The transition into receivership allows the court to appoint a neutral third party who can assess the company's liabilities and determine whether a restructuring is feasible or if liquidation is necessary.”
Real-World Examples
“Alma Place, a 393-room block in Belfast, was acquired by London-based investors the same month, just over a year after going into receivership.” Word family
VERB
NOUN
ADJECTIVE
Domains
- Exam level
- CambridgeCambridgeCambridge English QualificationsThe exam suite from Cambridge University Press & Assessment, from A1 Movers up to C2 Proficiency. The benchmark names double as CEFR labels.C1 AdvancedIELTSIELTSInternational English Language Testing SystemThe 0–9 band test co-owned by the British Council, IDP, and Cambridge. Used for university entry, work, and migration.7.0–8.0TOEFL iBTTOEFL iBTTest of English as a Foreign Language, Internet-Based TestETS's academic English test, the standard route for US university admissions. Scored 0–120, with a 1–6 scale since 2026.1–6 scale: 5.0–5.595–113TOEICTOEICTest of English for International CommunicationETS's workplace English test, big in Japan and Korea. Listening & Reading scores 10–990 and tops out at C1.945–990
- Frequency
- Occasional
- Level
- C1 · Advanced
- Updated
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