Final answer:
Receivership clauses are awarded by the court to a trustee of the bank to manage the assets of a financially distressed business or individual.
Step-by-step explanation:
In law, receivership clauses are awarded by the court to a trustee of the bank to manage the assets of a financially distressed business or individual.Receivership is often used as a remedy in cases of bankruptcy or insolvency, where the court appoints a receiver to take control of the company's assets and operations.The receiver's role is to manage and maximize the value of the assets, and to distribute the proceeds to creditors in accordance with the court's orders.