Receivership in foreclosure – in the area of Bankruptcy and Insolvency Law this term details a receivership during a procedure for the foreclosure of a lien on movables or mortgage, established on real estate. The receiver takes possession of the assets to use these and pay the local taxes. At the end of the day, he brings these in proper condition to the bailiff. He has to sell these and satisfy the creditors who established the lien or the mortgage.
