- A bankruptcy practitioner appointed by secured creditors in the United Kingdom to oversee the repayment of debts. The New York Times Financial Glossary
* * *receiver re‧ceiv‧er [rɪˈsiːvə ǁ -ər] noun [countable]1. also official receiver LAW someone who is chosen by a court to be in charge of a business or property for someone else. This is done when a business is bankrupt, when a partnership ends, or when people disagree about who owns something:
• A £100 million bid for the bankrupt supermarket company was accepted by the receiver.
• The company is now in the hands of the receivers.2. someone who buys and sells stolen property:
• a known receiver of stolen goods
* * *A receiver is appointed by creditors to take control of the assets of a bankrupt or insolvent company.
* * *receiver UK US /rɪˈsiːvər/ noun [C]► also UK official receiver) LAW, FINANCE someone who is asked by a court of law to officially close a bankrupt company by selling its assets, paying as many of its debts as possible, etc.: receivers of/for sth »
The receivers of the collapsed UK construction giant have failed with a legal bid to recoup more than £400,000 on behalf of the company's many creditors.»
In the current harsh economic climate, many small businesses have found themselves in the hands of the receiver.»
About 200 jobs were put at risk yesterday after the group called in the receivers.»
A receiver was appointed to track down the assets and redistribute them to investors.»
an administrative/court-appointed/interim receiver► a piece of electronic equipment that changes radio and television signals into sound and pictures: »
a digital/satellite/GPS receiver
Financial and business terms. 2012.