the.com/receivership
When a company is so broke a court hires a babysitter for its assets.
means A legal state where a court-appointed receiver takes control of a troubled entity's property to manage, protect, or sell it.
from From the receiver, the person who literally receives custody of property — a role rooted in 17th-century English equity courts stepping between creditors and chaos.
Not bankruptcyOften an alternative, focused on rescue or sale
Court appointedThe receiver answers to the judge, not owners
Sports tooFailing clubs get receivers and points deductions