Receivership Law

Receivership law refers to a legal situation where a court appoints a receiver to manage a company’s assets and operations when it faces financial distress or bankruptcy. The receiver acts as an independent party to protect the interests of creditors and ensure the business is either sold, restructured, or liquidated properly. This process aims to maximize the value of the company’s assets while ensuring debts are addressed fairly. Essentially, the receiver steps in to take control and make decisions that are in the best interest of those owed money or concerned about the company's future.