IN THE HANDS OF RECEIVERS Meaning and
Definition
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"In the hands of receivers" is an idiomatic expression that refers to a situation where something or someone is entrusted to a person or entity with the purpose of managing or taking control of it. This phrase is commonly used in legal and financial contexts.
When property or assets are said to be "in the hands of receivers," it means that a court-appointed receiver has been given the authority and responsibility to manage or oversee the assets on behalf of the court or a specified party. This typically occurs when there is a financial crisis, such as bankruptcy or insolvency, or when legal action is taken to recover money owed.
The receivers, who are typically professionals with expertise in managing and liquidating assets, take charge of the assets, including books, records, and other relevant documents, to assess the financial situation and make necessary decisions to protect the interests of creditors or other stakeholders.
The purpose of placing assets "in the hands of receivers" is to ensure an impartial and professional management of the assets, as well as to enforce legal rights and facilitate the orderly resolution of the financial situation. The receivers' role is to collect, preserve, and distribute assets for the benefit of creditors or parties determined by the court to be entitled to these funds.
Common Misspellings for IN THE HANDS OF RECEIVERS
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- in t he hands of receivers
- in th e hands of receivers
- in the h ands of receivers
- in the ha nds of receivers
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- in the hands of r eceivers
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- in the hands of receive rs
- in the hands of receiver s
