receivership
re‧ceiv‧er‧ship /rɪˈsiːvəʃɪp $ -vər-/
noun [uncountable]
The company went into receivership with massive debts.
re‧ceiv‧er‧ship /rɪˈsiːvəʃɪp $ -vər-/
noun [uncountable] Word Family: noun: receipt, receipts, receiver, reception, receivership, receiving, receptionist, receptor; adjective: receptive ≠ UNRECEPTIVE, received; verb: receive
if a business is in receivership, it is controlled by an official receiver because it has no money: