What is another word for receivership?
Pronunciation: [ɹɪsˈiːvəʃˌɪp] (IPA) 
Receivership is a term used to describe a situation where an appointed receiver takes control of the assets or affairs of a company or individual in financial distress. However, there are other synonyms to use instead of receivership. For instance, administration, liquidation, trusteeship, and bankruptcy all describe situations in which a person or entity is unable to handle their financial obligations effectively. In comparison, receivership is a legal proceeding initiated by creditors seeking to recover debts owed to them. These synonyms are not interchangeable, but they all indicate the extent of financial distress faced by a company or individual. Therefore, it is essential to understand the exact meaning of each word in the context of addressing financial difficulties.
