How Do You Spell RECEIVERSHIP?

Pronunciation: [ɹɪsˈiːvəʃˌɪp] (IPA)

Receivership is a legal term used to describe the state of a company or organization that has been placed under the control of a receiver. The word's spelling is unique because it contains two consecutive consonant sounds (/s/ and /v/) followed by a double vowel letter (/ee/). The IPA phonetic transcription for this term is /ɹɪˈsivərˌʃɪp/. The first syllable is pronounced with a short "i" sound, while the second syllable contains a stressed "i" and the "sh" sound at the end.

RECEIVERSHIP Meaning and Definition

1. Receivership is a legal process in which a receiver is appointed by a court or another authorized entity to take control and manage the assets, affairs, and operations of a person, company, or organization that is financially distressed or insolvent. The appointment usually occurs when debt obligations or financial troubles reach a level that threatens the entity's ability to meet its obligations to creditors.

   In a receivership, the receiver is entrusted with the responsibility of protecting the interests of creditors, investors, or other parties with a stake in the entity. The receiver is typically a neutral and independent party appointed either by the court or by secured creditors, and their duty is to maximize the value of the assets under their control. This involves overseeing the sale of assets, restructuring debts, or carrying out any necessary actions to preserve and optimize the organization's financial position.

   Receivership is often a necessary step in financial distress situations to ensure an orderly, fair, and efficient resolution of the entity's financial difficulties. It provides protection to creditors and stakeholders from further deterioration of the entity's financial condition and can facilitate the rehabilitation or liquidation of the entity. Additionally, receivership can help maximize the recovery for creditors and ensure transparency and accountability in the management and disposition of the entity's assets.

Top Common Misspellings for RECEIVERSHIP *

• recievership 85.7142857%
• recivership 14.2857142%

* The statistics data for these misspellings percentages are collected from over 15,411,110 spell check sessions on www.spellchecker.net from Jan 2010 - Jun 2012.

Other Common Misspellings for RECEIVERSHIP

• reciverships
• reciveaship
• eeceivership
• deceivership
• feceivership
• teceivership
• 5eceivership
• 4eceivership
• rwceivership
• rsceivership
• rdceivership
• receivershiips
• receivorship
• receiviship
• receivsip
• receveship

Etymology of RECEIVERSHIP

The word "receivership" originates from the combination of two words: "receiver" and "ship".

"Receiver" has its roots in the Old French word "recevor", which means "one who receives". It ultimately derives from the Latin word "recipere", which means "to take in, receive". The term "receiver" refers to an individual or entity appointed by a court to take possession and control of the assets and affairs of a company, organization, or individual to safeguard and protect them.

The suffix "-ship" stems from the Old English word "-scipe", which denotes a condition or state of being. It is similar to the modern English "-hood" suffix. In the case of "receivership", "-ship" is attached to "receiver" to express the state or condition of being under the control or possession of a receiver.

Plural form of RECEIVERSHIP is RECEIVERSHIPS