Editing Receivership (section)

{{Short description|Trustee management of an organisation, typically due to insolvency}}
{{Use dmy dates |date=April 2024}}
{{Use British English |date=April 2024}} 
{{Insolvency}}

In [[law]], '''receivership''' is a situation in which an institution or enterprise is held by a '''receiver''' – a person "placed in the custodial responsibility for the [[property]] of others, including tangible and intangible [[asset]]s and rights" – especially in cases where a company cannot meet its financial obligations and is said to be [[insolvency|insolvent]].<ref name=Philip2007>
{{cite journal |last=Philip |first=Ken |last2=Kaminski |first2=Kerin |url=https://www.receivership911.com/wp-content/uploads/on_receiverships_the_secured_lender.pdf |title=Receivership: A Value-Adding Tool |journal=Secured Lender |date=January–February 2007 |volume=63 |issue=1 |pages=30–34, 36}}</ref> The receivership remedy is an [[equitable remedy]] that emerged in the English [[chancery court]]s, where receivers were appointed to protect real property.<ref name="Weingart">{{cite journal|last=Weingart|first=Liat|title=Receiverships in the Prison Litigation Context|ssrn=1905159|journal=Cardozo Public Law, Policy & Ethics Journal |volume=9 |page=193 |year=2010 }}</ref> Receiverships are also a remedy of last resort in litigation involving the conduct of executive agencies that fail to comply with constitutional or statutory obligations to populations that rely on those agencies for their basic [[human rights]].{{Citation needed |date=April 2024}}