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Submitted 25 days ago...

ChildCare629

ChildCare629

New User (2)

Real Estate

What does the term in receivership mean?

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Answer 1 / 1 - Submitted 21 days ago...

USAFRET91

USAFRET91

Brain (6,824)

Receivership is used to denote a situation in which an institution or enterprise is being held by a receiver. In law, a receiver is a person "placed in the custodial responsibility for the property of others, including tangible and intangible assets and rights." Various types of receiver appointments exist:

a receiver appointed by a (government) regulator pursuant to a statute;

a privately-appointed receiver;

a court-appointed receiver.

The receiver's powers "flow from the document(s) underlying his appointment – a statute, financing agreement, or court order.

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