{"id":9842,"date":"2020-10-21T19:00:56","date_gmt":"2020-10-21T23:00:56","guid":{"rendered":"http:\/\/www.irasmithinc.com\/blog\/?p=9842"},"modified":"2021-10-08T11:36:04","modified_gmt":"2021-10-08T15:36:04","slug":"receivership-meaning","status":"publish","type":"post","link":"https:\/\/irasmithinc.com\/blog\/receivership-meaning\/","title":{"rendered":"RECEIVERSHIP MEANING:  OUR NURTURING 8 POINT CHEAT-SHEET ANSWERS WHAT IS RECEIVERSHIP"},"content":{"rendered":"<p><iframe loading=\"lazy\" src=\"https:\/\/www.youtube.com\/embed\/-Zwae-txOjM\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p class=\"ng-scope\"><strong><a id=\"caret\" style=\"font-family: NonBreakingSpaceOverride, &#039;Hoefler Text&#039;, Garamond, &#039;Times New Roman&#039;, serif; font-size: 21px; font-weight: 400; text-align: center; box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; transition: all 0.15s linear 0s; color: #03788c !important;\" href=\"https:\/\/www.google.com\/maps\/dir\/43.8304768,-79.5082752\/bankruptcy+trustee+vaughan\/@43.8117097,-79.5412497,13z\/data=!3m1!4b1!4m9!4m8!1m1!4e1!1m5!1m1!1s0x882b2f0ae005a70f:0x7fde3a2e744a0e1c!2m2!1d-79.5340868!2d43.8075903\" target=\"_blank\" rel=\"noopener noreferrer\">The<\/a><a style=\"font-family: NonBreakingSpaceOverride, &#039;Hoefler Text&#039;, Garamond, &#039;Times New Roman&#039;, serif; font-size: 21px; font-weight: 400; text-align: center; box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; transition: all 0.15s linear 0s; color: #03788c !important;\" href=\"https:\/\/www.irasmithinc.com\/\">\u00a0<em style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: inherit; line-height: inherit; margin: 0px; padding: 0px; text-align: inherit;\">Ira Smith Trustee Team<\/em><\/a><span style=\"color: #000000; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif; font-size: 21px; font-weight: 400; text-align: center; background-color: #f9f9f9;\">\u00a0is absolutely operational and Ira, in addition to Brandon Smith, is readily available for a telephone consultation or video meeting.\u00a0\u00a0We hope that you and your family are safe and healthy.<\/span><\/strong><\/p>\n<h2 id='receivership-meaning-introduction'  id=\"boomdevs_1\" class=\"ng-scope\"><strong><em>Receivership meaning<\/em>\u00a0introduction<\/strong><\/h2>\n<p class=\"ng-scope\">My last Brandon&#8217;s blog was about\u00a0<a href=\"http:\/\/www.irasmithinc.com\/blog\/bankruptcy-meaning\/\" target=\"_blank\" rel=\"noopener noreferrer\">bankruptcy meaning<\/a>;\u00a0 the duties, rights and responsibilities of the different stakeholders in a bankruptcy administration.\u00a0 So I thought it would be fitting to follow that up with a blog on the topic of\u00a0<strong><em>receivership meaning<\/em><\/strong>.<\/p>\n<p class=\"ng-scope\">In this Brandon&#8217;s Blog, I answer the 14 most often asked questions about the\u00a0<a href=\"http:\/\/www.irasmithinc.com\/blog\/what-is-receivership-receivership-order\/\" target=\"_blank\" rel=\"noopener noreferrer\"><em>meaning of receivership<\/em><\/a>.<\/p>\n<h2 id='receivership-meaning-what-s-the-meaning-of-receivership-in-simple-words'  id=\"boomdevs_2\" class=\"ng-scope\"><strong><em>Receivership meaning<\/em>:\u00a0 What&#8217;s the meaning of &#8220;receivership&#8221; in simple words<\/strong><\/h2>\n<p class=\"ng-scope\">The <a href=\"https:\/\/www.irasmithinc.com\/bankruptcy_services-corporate_receivership-and-bankruptcy.html\"><em>receivership meaning<\/em><\/a> in English, according to the Merriam-Webster dictionary is:<\/p>\n<p class=\"ng-scope\">&#8220;Definition of receivership<\/p>\n<p class=\"ng-scope\">1:\u00a0<a href=\"http:\/\/www.irasmithinc.com\/bankruptcy_services-corporate_receivership-and-bankruptcy.html\" target=\"_blank\" rel=\"noopener noreferrer\">the office or function of a receiver<\/a><\/p>\n<p class=\"ng-scope\">2: the state of being in the hands of a receiver&#8221;<\/p>\n<p class=\"ng-scope\">Those are the simplest words I can think of.\u00a0 Unfortunately, it does not tell you much.\u00a0 I doubt that it aids in your understanding.\u00a0 Simple words don&#8217;t help.\u00a0 Let&#8217;s get a little more complex.<\/p>\n<h2 id='receivership-meaning-what-does-it-mean-when-a-receiver-is-appointed'  id=\"boomdevs_3\" class=\"ng-scope\"><strong><em>Receivership meaning<\/em>:\u00a0 What does it mean when a receiver is appointed?<\/strong><\/h2>\n<p class=\"ng-scope\">First, a receivership is a remedy for secured creditors, such as a chartered bank or another lender who lent money to a company and took back valid security.\u00a0 One of the terms of the security agreement will be that upon one or more events of default, the secured creditor has the right to appoint a receiver.<\/p>\n<p class=\"ng-scope\">When a secured creditor wishes to realize upon the assets of the borrower company that is subject to its security, they employ the services of a\u00a0<em>Licensed Insolvency Trustee (Trustee)<\/em>\u00a0to be the receiver. A receivership is performed under the authority of the\u00a0<a href=\"https:\/\/laws-lois.justice.gc.ca\/eng\/acts\/b-3\/page-53.html#h-28565\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Bankruptcy and Insolvency Act<\/em>\u00a0(Canada) (BIA)<\/a>.<\/p>\n<p class=\"ng-scope\">In Canada, only a Trustee can be a receiver.\u00a0 The secured creditor appoints the receiver to take possession of the collateral covered by the lender&#8217;s security.\u00a0 The receiver then conducts a\u00a0<a href=\"https:\/\/www.investopedia.com\/terms\/r\/receivership.asp\" target=\"_blank\" rel=\"noopener noreferrer\"><em>receivership<\/em><\/a>.<\/p>\n<h2 id='receivership-meaning-how-is-a-receiver-appointed'  id=\"boomdevs_4\" class=\"ng-scope\"><strong><em>Receivership meaning<\/em>:\u00a0 How is a receiver appointed?<\/strong><\/h2>\n<p class=\"ng-scope\">There are two kinds of receiver appointments:\u00a0 (i) private appointment; or (ii)\u00a0<em><a href=\"http:\/\/www.irasmithinc.com\/blog\/what-is-receivership-receivership-order\/\" target=\"_blank\" rel=\"noopener noreferrer\">court appointment<\/a><\/em>.\u00a0 The type of appointment depends upon the circumstances facing the putative receiver.\u00a0 The main question to answer is are there practical or legal reasons why the court is required to make decisions and oversee this proposed receivership.\u00a0 If no, then a private appointment can take place.\u00a0 If yes, then an application to court needs to be made to have a receiver appointed.<\/p>\n<p class=\"ng-scope\">Before being able to either make a private appointment or seek the assistance of the court, the secured creditor must give the borrower company adequate notice.\u00a0 It must provide the borrower with written notice of the events of default and demand full repayment of the loan.\u00a0 The lender must give the company at least 10 days&#8217; notice before being able to appoint the receiver.\u00a0 The company that borrowed the money can waive the 10 day notice period, but the lender cannot.<\/p>\n<h2 id='receivership-meaning-what-happens-when-the-receiver-is-called-in'  id=\"boomdevs_5\" class=\"ng-scope\"><strong><em>Receivership meaning<\/em>:\u00a0 What happens when the receiver is called in?<\/strong><\/h2>\n<p class=\"ng-scope\">When the receiver is appointed,\u00a0 there are certain steps that the receiver must take.\u00a0 The receiver is charged with the responsibility of taking possession of the assets of the company in receivership.\u00a0 The receiver must get possession and control of the assets to safeguard them, wherever they are located.\u00a0 The receiver must make sure that an inventory of all the assets is quickly taken and that the assets are adequately insured.<\/p>\n<p class=\"ng-scope\">Keep in mind that the assets belong to a company that was carrying on an active business.\u00a0 Therefore, one of the first things the\u00a0<a href=\"http:\/\/www.irasmithinc.com\/blog\/what-is-receivership-receivership-order\/\"><em>appointed receiver<\/em><\/a>\u00a0must decide is whether or not to carry on the business of the company.\u00a0 The receiver must answer many questions, including:<\/p>\n<ul class=\"ng-scope\">\n<li class=\"ng-scope\">Was the business already shut down when the receiver was appointed?<\/li>\n<li class=\"ng-scope\">Are <a href=\"http:\/\/www.irasmithinc.com\/blog\/company-went-bankrupt-and-didnt-pay-me-wages\/\">experienced employees<\/a> available and willing to work for the receiver?<\/li>\n<li class=\"ng-scope\">Will the assets of the company be worth more if sold on an\u00a0<em><a href=\"http:\/\/www.irasmithinc.com\/blog\/canadian-business\/\" target=\"_blank\" rel=\"noopener noreferrer\">operating business<\/a><\/em>\u00a0basis than on a shutdown liquidation basis?<\/li>\n<li class=\"ng-scope\">Can the receiver operate the business in a cash-flow positive way?<\/li>\n<li class=\"ng-scope\">If the receiver is estimating that the business being run in receivership will produce negative cash flow, is the secured creditor willing to fund the losses to take the chance that the assets will sell for a higher price than if the business is shut down right away?<\/li>\n<li class=\"ng-scope\">Are there any legal, regulatory, or <a href=\"http:\/\/www.irasmithinc.com\/blog\/redwater-alberta-news-1-7-billion-cleanup-orphan-wells\/\" target=\"_blank\" rel=\"noopener noreferrer\"><em>environmental issues<\/em><\/a>\u00a0that would preclude the receiver from operating the business?<\/li>\n<li class=\"ng-scope\">Can the business be run safely?<\/li>\n<li class=\"ng-scope\">Is there property located on the company&#8217;s premises that belong to third parties and therefore are not assets of the company covered by the lender&#8217;s security?\u00a0 This includes any assets, normally inventory, that might be subject to the right of revindication.<\/li>\n<\/ul>\n<p class=\"ng-scope\">These are just some of the considerations for the receiver.\u00a0 The receiver must be able to make decisions rather quickly.\u00a0 The receiver must also be able to support the decisions with facts and evidence.\u00a0 So as you can see, the\u00a0<em>receivership meaning<\/em>, in the beginning, means that there is a lot of hectic activity and decisions.<\/p>\n<figure id=\"attachment_9844\" aria-describedby=\"caption-attachment-9844\" style=\"width: 1024px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.google.com\/maps\/dir\/\/Ira+Smith+Trustee+%26+Receiver+Inc.,+167+Applewood+Crescent+%236,+Concord,+ON+L4K+4K7,+Canada\/@43.8035998,-79.5318641,13z\/data=!4m8!4m7!1m0!1m5!1m1!1s0x882b2f0ae005a70f:0x7fde3a2e744a0e1c!2m2!1d-79.5340868!2d43.8075903\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-9844 size-large\" src=\"http:\/\/www.irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning-1024x576.jpg\" alt=\"receivershp meaning\" width=\"1024\" height=\"576\" data-wp-pid=\"9844\" data-pin-nopin=\"nopin\" title=\"\" srcset=\"https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning-1024x576.jpg 1024w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning-300x169.jpg 300w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning-768x432.jpg 768w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning-1200x675-cropped.jpg 1200w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning-150x84.jpg 150w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning.jpg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption id=\"caption-attachment-9844\" class=\"wp-caption-text\">receivership meaning<\/figcaption><\/figure>\n<h2 id='receivership-meaning-under-receivership-meaning'  id=\"boomdevs_6\" class=\"ng-scope\"><strong><em>Receivership meaning<\/em>:\u00a0 Under receivership meaning<\/strong><\/h2>\n<p class=\"ng-scope\">So when the company is placed in\u00a0<a href=\"http:\/\/www.irasmithinc.com\/blog\/receivership-3\/\" target=\"_blank\" rel=\"noopener noreferrer\"><em>receivership<\/em><\/a>, it is under receivership.\u00a0 Once the receiver makes the various decisions I talked about above, with facts backing them up, the receiver then needs to get approval.<\/p>\n<p class=\"ng-scope\">In a private appointment, the receiver only needs the approval of the secured creditor that appointed the receiver in an attempt to recover its\u00a0<em>secured loan<\/em>.\u00a0 In a court appointment, the\u00a0<em>receivership meaning<\/em>\u00a0is that the receiver needs to take several steps.<\/p>\n<p class=\"ng-scope\">First, the appointed receiver should make sure that the secured creditor who applied to the court for the\u00a0<em><a href=\"http:\/\/www.irasmithinc.com\/blog\/receivership-in-bankruptcy\/\" target=\"_blank\" rel=\"noopener noreferrer\">receivership appointment order<\/a>\u00a0<\/em>is onside with the receiver&#8217;s recommendations.\u00a0 Once that is the case, the receiver needs to prepare its report to court to advise the court of the receiver&#8217;s activities up to that date and the receiver&#8217;s recommendations for going forward in the receivership administration.\u00a0 The receiver is asking the <a href=\"http:\/\/www.irasmithinc.com\/blog\/court-appointed-receiver\/\">court for its approval<\/a> of the actions and activities of the receiver to date and for its go-forward recommendations.<\/p>\n<h2 id='receivership-meaning-what-does-a-receiver-do-in-business'  id=\"boomdevs_7\" class=\"ng-scope\"><strong><em>Receivership meaning<\/em>:\u00a0 What does a receiver do in business<\/strong><\/h2>\n<p class=\"ng-scope\">Once the receiver receives the appropriate approval from the holder of the\u00a0<em>secured debt<\/em>\u00a0in a private appointment, or the\u00a0<em>court order<\/em>\u00a0approving the\u00a0<em>receiver&#8217;s recommendations<\/em>, it then proceeds with implementing its recommendations in the\u00a0<em>receivership administration<\/em>.\u00a0 If the receiver is continuing to run the business while advertising the business assets for sale, that is called a\u00a0<em>going-concern sale<\/em>.<\/p>\n<p class=\"ng-scope\">If the receiver is not operating the business and is just selling the assets of the closed-down business, that is called a\u00a0<em>liquidation sale<\/em>.\u00a0 That is\u00a0<em>what happens in a liquidation<\/em>.<\/p>\n<h2 id='receivership-meaning-what-is-the-difference-between-receivership-liquidation-and-insolvency'  id=\"boomdevs_8\" class=\"ng-scope\"><strong><em>Receivership meaning<\/em>:\u00a0 What is the difference between receivership, liquidation, and insolvency?<\/strong><\/h2>\n<p class=\"ng-scope\">When trying to figure out the receivership meaning, I have been asked the following questions many times:<\/p>\n<ul class=\"ng-scope\">\n<li class=\"ng-scope\"><em>What is the difference between receivership and liquidation<\/em>?<\/li>\n<li class=\"ng-scope\"><em>What&#8217;s the difference between liquidation and insolvency<\/em>?<\/li>\n<li class=\"ng-scope\"><em>What happens when a company goes into receivership in Canada<\/em>?<\/li>\n<\/ul>\n<p class=\"ng-scope\">I hope that based on what you have read so far, you now understand that receivership is an enforcement action started by the holder of\u00a0<em>secured debt<\/em>\u00a0or a\u00a0<em>secured loan<\/em>.\u00a0 Liquidation can have two meanings.\u00a0 The first one is when the receiver (or\u00a0<a href=\"https:\/\/www.irasmithinc.com\/\" target=\"_blank\" rel=\"noopener noreferrer\"><em>bankruptcy trustee<\/em><\/a>) sells the assets while NOT operating the company&#8217;s business.\u00a0 The second meaning of the word is in the phrase &#8220;statutory liquidation&#8221;.\u00a0 This happens when the shareholders decide to close down the business, but the value of all the assets is enough to provide funds to not only pay off all the debts.\u00a0 It also provides funds for the shareholders.\u00a0 A statutory liquidation happens when the company is solvent.<\/p>\n<p class=\"ng-scope\">Insolvency, or insolvent, is a financial state.\u00a0 It means that the company cannot pay its debts as they come due.\u00a0 It also means that if the company&#8217;s assets are liquidated, there would not be sufficient funds to pay off all of the liabilities.<\/p>\n<p class=\"ng-scope\">Finally, my whole discussion above is meant to explain in a receivership meaning sense, what happens when a company goes into receivership in Canada.<\/p>\n<h2 id='receivership-meaning-how-do-receivers-get-paid'  id=\"boomdevs_9\" class=\"ng-scope\"><strong><em>Receivership meaning<\/em>:\u00a0 How do receivers get paid<\/strong><\/h2>\n<p class=\"ng-scope\">The\u00a0<em>financial institution<\/em>\u00a0or other secured creditor who is responsible for the appointment of the receiver is liable to pay for the cost of the receivership.\u00a0 The receiver has a first charge against the assets of the company secured by the lender.\u00a0 That first charge is subject only to any valid trust claim against those same assets.<\/p>\n<p class=\"ng-scope\">If the assets are insufficient to pay for the cost of the receivership and fully repay the<em>\u00a0outstanding debt<\/em>\u00a0of the secured creditor, then that creditor will suffer a shortfall.<\/p>\n<h2 id='receivership-meaning-summary'  id=\"boomdevs_10\" class=\"ng-scope\"><strong><span style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word;\"><em style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: inherit; line-height: inherit; margin: 0px; padding: 0px; text-align: inherit;\">Receivership meaning<\/em>\u00a0summary<\/span><\/strong><\/h2>\n<p class=\"ng-scope\" style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: 21px; line-height: 1.476; margin: 0px auto 1.25em; padding: 0px; max-width: 58rem; width: calc(100% - 4rem); color: #000000; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif; background-color: #f9f9f9;\">I hope you have enjoyed this\u00a0<em style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: inherit; line-height: inherit; margin: 0px; padding: 0px; text-align: inherit;\">bankruptcy\u00a0meaning\u00a0<\/em>Brandon\u2019s Blog.\u00a0 Hopefully, you have better insight now into the fact that a sick insolvent company\u2019s business can be saved by doing a sale of its assets to a healthy organization.<\/p>\n<p class=\"ng-scope\" style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: 21px; line-height: 1.476; margin: 0px auto 1.25em; padding: 0px; max-width: 58rem; width: calc(100% - 4rem); color: #000000; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif; background-color: #f9f9f9;\">Do you or your company have too much debt? Are you or your company in need of financial restructuring? The financial restructuring process is complex. The\u00a0<a style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; transition: all 0.15s linear 0s; color: #03788c !important;\" href=\"http:\/\/www.irasmithinc.com\/contact_us.html\">Ira Smith Team<\/a>\u00a0understands how to do a complex restructuring. However, more importantly, we understand the needs of the entrepreneur or the person who has too much personal debt.<\/p>\n<p class=\"ng-scope\" style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: 21px; line-height: 1.476; margin: 0px auto 1.25em; padding: 0px; max-width: 58rem; width: calc(100% - 4rem); color: #000000; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif; background-color: #f9f9f9;\">You are worried because you are facing significant financial challenges.\u00a0 It is not your fault that you are in this situation. You have been only shown the old ways that do not work anymore. The\u00a0<a style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; transition: all 0.15s linear 0s; color: #03788c !important;\" href=\"http:\/\/www.irasmithinc.com\/contact_us.html\">Ira Smith Team<\/a>\u00a0uses new modern ways to get you out of your debt troubles while avoiding bankruptcy. We can get you debt relief freedom.<\/p>\n<p class=\"ng-scope\" style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: 21px; line-height: 1.476; margin: 0px auto 1.25em; padding: 0px; max-width: 58rem; width: calc(100% - 4rem); color: #000000; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif; background-color: #f9f9f9;\">The stress placed upon you is huge. We understand your pain points. We look at your entire situation and devise a strategy that is as unique as you and your problems; financial and emotional. The way we take the load off of your shoulders and devise a debt settlement plan, we know that we can help you.<\/p>\n<p class=\"ng-scope\" style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: 21px; line-height: 1.476; margin: 0px auto 1.25em; padding: 0px; max-width: 58rem; width: calc(100% - 4rem); color: #000000; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif; background-color: #f9f9f9;\">We know that people facing financial problems need a realistic lifeline. There is no \u201cone solution fits all\u201d approach with the\u00a0<a style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; transition: all 0.15s linear 0s; color: #03788c !important;\" href=\"http:\/\/www.irasmithinc.com\/contact_us.html\">Ira Smith Team<\/a>.<\/p>\n<p class=\"ng-scope\" style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: 21px; line-height: 1.476; margin: 0px auto 1.25em; padding: 0px; max-width: 58rem; width: calc(100% - 4rem); color: #000000; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif; background-color: #f9f9f9;\">That is why we can develop a restructuring process as unique as the financial problems and pain you are facing. If any of this sounds familiar to you and you are serious in finding a solution,\u00a0contact the Ira Smith Trustee &amp; Receiver Inc. team today.<\/p>\n<p class=\"ng-scope\" style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: 21px; line-height: 1.476; margin: 0px auto 1.25em; padding: 0px; max-width: 58rem; width: calc(100% - 4rem); color: #000000; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif; background-color: #f9f9f9;\"><a style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; transition: all 0.15s linear 0s; color: #03788c !important;\" href=\"http:\/\/www.irasmithinc.com\/contact_us.html\">Call us now for a free consultation.<\/a><\/p>\n<p class=\"ng-scope\" style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: 21px; line-height: 1.476; margin: 0px auto 1.25em; padding: 0px; max-width: 58rem; width: calc(100% - 4rem); color: #000000; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif; background-color: #f9f9f9;\">We will get you or your company back on the road to healthy stress-free operations and recover from the pain points in your life, Starting Over, Starting Now.<\/p>\n<p class=\"ng-scope\" style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: 21px; line-height: 1.476; margin: 0px auto 1.25em; padding: 0px; text-align: center; max-width: 58rem; width: calc(100% - 4rem); color: #000000; font-family: NonBreakingSpaceOverride, 'Hoefler Text', Garamond, 'Times New Roman', serif; background-color: #f9f9f9;\"><a style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; transition: all 0.15s linear 0s; color: #03788c !important;\" href=\"https:\/\/www.google.com\/maps\/dir\/43.8304768,-79.5082752\/bankruptcy+trustee+vaughan\/@43.8117097,-79.5412497,13z\/data=!3m1!4b1!4m9!4m8!1m1!4e1!1m5!1m1!1s0x882b2f0ae005a70f:0x7fde3a2e744a0e1c!2m2!1d-79.5340868!2d43.8075903\" target=\"_blank\" rel=\"noopener noreferrer\">The<\/a><a style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; transition: all 0.15s linear 0s; color: #03788c !important;\" href=\"https:\/\/www.irasmithinc.com\/\">\u00a0<em style=\"box-sizing: inherit; -webkit-font-smoothing: antialiased; word-break: break-word; overflow-wrap: break-word; border: none; font-size: inherit; line-height: inherit; margin: 0px; padding: 0px; text-align: inherit;\">Ira Smith Trustee Team<\/em><\/a>\u00a0is absolutely operational and Ira, in addition to Brandon Smith, is readily available for a telephone consultation or video meeting.\u00a0\u00a0We hope that you and your family are safe and healthy.<\/p>\n<figure id=\"attachment_9844\" aria-describedby=\"caption-attachment-9844\" style=\"width: 1280px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/www.google.com\/maps\/dir\/\/Ira+Smith+Trustee+%26+Receiver+Inc.,+167+Applewood+Crescent+%236,+Concord,+ON+L4K+4K7,+Canada\/@43.8035998,-79.5318641,13z\/data=!4m8!4m7!1m0!1m5!1m1!1s0x882b2f0ae005a70f:0x7fde3a2e744a0e1c!2m2!1d-79.5340868!2d43.8075903\" target=\"_blank\" rel=\"https:\/\/www.google.com\/maps\/dir\/\/Ira+Smith+Trustee+%26+Receiver+Inc.,+167+Applewood+Crescent+%236,+Concord,+ON+L4K+4K7,+Canada\/@43.8035998,-79.5318641,13z\/data=!4m8!4m7!1m0!1m5!1m1!1s0x882b2f0ae005a70f:0x7fde3a2e744a0e1c!2m2!1d-79.5340868!2d43.8075903 noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-9844 size-full\" title=\"receivership meaning\" src=\"http:\/\/www.irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning.jpg\" alt=\"receivership meaning\" width=\"1280\" height=\"720\" data-wp-pid=\"9844\" data-pin-nopin=\"nopin\" srcset=\"https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning.jpg 1280w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning-300x169.jpg 300w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning-1024x576.jpg 1024w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning-768x432.jpg 768w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning-1200x675-cropped.jpg 1200w, https:\/\/irasmithinc.com\/blog\/wp-content\/uploads\/2020\/10\/receivershp-meaning-150x84.jpg 150w\" sizes=\"auto, (max-width: 1280px) 100vw, 1280px\" \/><\/a><figcaption id=\"caption-attachment-9844\" class=\"wp-caption-text\">receivership meaning<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"<p>The\u00a0Ira Smith Trustee Team\u00a0is absolutely operational and Ira, in addition to Brandon Smith, is readily available for a telephone consultation or video meeting.\u00a0\u00a0We hope that you and your family are safe and healthy. Receivership meaning\u00a0introduction My last Brandon&#8217;s blog was about\u00a0bankruptcy meaning;\u00a0 the duties, rights and responsibilities of the different stakeholders in a bankruptcy administration.\u00a0 [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[34,2446,4486,4487,863,990,4492,4488,89,4481,4491,4482,4483,4490,4494,4485,4484,4489,4493],"class_list":["post-9842","post","type-post","status-publish","format-standard","hentry","category-brandon-blog-post","tag-bankruptcy-trustee","tag-court-appointed","tag-how-do-receivers-get-paid","tag-how-is-a-receiver-appointed","tag-ira-smith-trustee","tag-licensed-insolvency-trustee","tag-meaning-of-receivership","tag-private-appointment","tag-receivership","tag-receivership-meaning","tag-under-receivership-meaning","tag-what-does-a-receiver-do-in-business","tag-what-does-it-mean-when-a-receiver-is-appointed","tag-what-happens-in-a-liquidation","tag-what-happens-when-a-company-goes-into-receivership-in-canada","tag-what-happens-when-the-receiver-are-called-in","tag-what-is-the-difference-between-receivership-and-liquidation","tag-whats-the-difference-between-liquidation-and-insolvency","tag-whats-the-meaning-of-receivership-in-simple-words"],"_links":{"self":[{"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/posts\/9842","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/comments?post=9842"}],"version-history":[{"count":5,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/posts\/9842\/revisions"}],"predecessor-version":[{"id":11182,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/posts\/9842\/revisions\/11182"}],"wp:attachment":[{"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/media?parent=9842"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/categories?post=9842"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/irasmithinc.com\/blog\/wp-json\/wp\/v2\/tags?post=9842"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}