Receivership
(noun)
- The state of being in charge of receiving something again.
- The state of being in charge of managing something that is in the process of being received.
Origin:
From the prefix "re-" meaning "again" or "back" and the word "receivership" which means "the state of being in charge of receiving something".
Examples:
- The company was put into receivership after it went bankrupt.
- The property was put into receivership due to unpaid taxes.
- The bank appointed a receiver to take charge of the assets of the company.
- The court appointed a receiver to take control of the assets of the debtor.
- The receivership was established to protect the assets of the company until a buyer could be found.