RECEIVERSHIP
receivership. 1. The state or condition of being in the control of a receiver. [Cases:
Corporations 552, 621(.5); Receivers 1. C.J.S. Corporations § 756; Receivers§§ 1–3.] 2. The
position or function of being a receiver appointed by a court or under a statute. 3. A proceeding in
which a court appoints a receiver.
ancillary receivership.A receivership in which a further administrative proceeding is
appointed in another state to help the principal receivership.
dry receivership.A receivership in which there is no equity available to pay general creditors.
[Cases: Receivers 151, 163. C.J.S. Receivers §§ 299–301, 390–401.] [Blacks Law 8th]