Receivership

Bankruptcy. The courts have received the asset and it's now on them to, well, dispose of it. Like...auction it off to the highest bidder and get back from the creditors as much money as is reasonably obtainable.

That's what receivership is. Someone receives an asset. And then dumps it.

See: Chapter 7 and See: Chapter 11 for two flavors of this horrible, awful, no-good series of events.