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Questions About Receivership Accounts

What are RECEIVERSHIP assets? If someone is doing an ACCOUNTING OF RECEIVERSHIP ASSETS what does that mean?


Industry Expert answers:

A company that is in liquidation goes into receivership. This means that the bankruptcy court appoints an individual to track down and make a list of all the assets of the failed company. That is the receiver. He or she pursues all the receivables and other assets of the company and reports them to the court. This is called the accounting. The court decides what to do with the assets and how to distribute the proceeds to satisfy the claims of creditors.

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