What context can I use each word in?
Learn when and how to use these words with these examples!
receivership
Example
The company was placed in receivership due to its inability to pay its debts. [receivership: noun]
Example
The receiver was appointed to manage the company's assets during the receivership period. [receiver: noun]
bankruptcy
Example
The company filed for bankruptcy after failing to pay its debts. [bankruptcy: noun]
Example
He declared bankruptcy after his business failed to generate enough revenue. [bankrupt: verb]
Good things to know
Which word is more common?
Bankruptcy is more commonly used than receivership in everyday language, as it is a more well-known term and is often associated with financial ruin. Receivership is a less common term that is typically used in legal or financial contexts.
What’s the difference in the tone of formality between receivership and bankruptcy?
Receivership and bankruptcy are both formal terms that are typically used in legal or financial contexts. However, bankruptcy is more commonly used in everyday language and can be employed in various formality levels, while receivership is more specialized and may be less familiar to non-experts.
