Receiverships

Receivership is a legal process where a court appoints a neutral party, called a receiver, to take control of a company's assets or operations. This typically happens when a business faces financial difficulties and creditors seek to protect their interests. The receiver's role is to manage, preserve, or sell assets to satisfy debts, often to ensure an orderly resolution. It’s different from bankruptcy, serving as a management interim rather than a complete liquidation, allowing for potential restructuring or sale under court supervision to maximize value for creditors.