In the first of a four-part series on heart failure, we investigate what it is, what causes it and whatâs the prognosis. The Unrelaxing Heart. The second installment explains heart failure with muscle intact. Queen Latifah and her mom, Rita, share their personal experience with Ritaâs own heart failure diagnosis.
In law, receivership is a situation in which an institution or enterprise is held by a receiverâa person placed in the custodial responsibility for the property of others, including tangible and intangible assets and rightsâespecially in cases where a company cannot meet financial obligations or enters bankruptcy.
The role of a receiver is to collect and sell enough of the charged assets to repay the debt owed to the secured creditor. The difference between receivership and other forms of external administration is that the appointment of a receiver does not affect the legal existence of the company. The directors of the relevant company still remain in office but their powers are limited depending upon the powers granted to the receiver and the extent of the assets over which the receiver is appointed.