Receiver: Difference between revisions
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{{a|netting|}}{{d|Receiver|/rɪˈsiːvə/|n}}A professional appointed by a Court or by secured creditors, to oversee the process of liquidating a bankrupt, oir at any rated, distressed, company. The receiver may manage the business as a going concern or take steps to wind up its affairs, selling its assets, paying off its debts, and distributing any remaining assets to shareholders or creditors. | |||
What it can do, when, and at whose direction depends on the insolvency rules for the particular jurisdiction type and entity. | |||
Similar, but related terms: [[liquidator]], [[administrator]], [[assignee]], [[insolvency trustee]], [[examiner]]. | |||
Revision as of 14:44, 16 May 2024
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Netting resources
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Receiver
/rɪˈsiːvə/ (n.)
A professional appointed by a Court or by secured creditors, to oversee the process of liquidating a bankrupt, oir at any rated, distressed, company. The receiver may manage the business as a going concern or take steps to wind up its affairs, selling its assets, paying off its debts, and distributing any remaining assets to shareholders or creditors.
What it can do, when, and at whose direction depends on the insolvency rules for the particular jurisdiction type and entity.
Similar, but related terms: liquidator, administrator, assignee, insolvency trustee, examiner.