I’ve seen these two terms being used in the discussions of the current economic crisis. Could someone explain what the difference is between those two concepts in US bankruptcy law?
Bankruptcy is a mechanism created by federal law. Receivership is, in most cases, an involuntary proceeding under state law brought by an entity’s creditors and for their benefit. Receivership - Wikipedia
A conservatorship is a state-level proceeding, in most cases, created for the benefit of a person who, usually because of a disability, can’t manage his own affairs. The wiki notes that the term has been adopted to apply where