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receiver

1. A person appointed by the court to preserve and protect property that is at risk, to enable another person to obtain the benefit of rights over the property or to obtain payment of a debt if the common-law remedy is inadequate. See also *equitable execution.
2. A person appointed under the terms of a *debenture or by the court to realize assets charged and apply the proceeds for the benefit of those entitled. Notice of appointment must be given to the Companies Registry and must appear upon business documents. The receiver may have power to manage the company. See also *administrative receiver; *official receiver.

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