arrangement with creditors

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• arrangement with creditors — A plan of a debtor for the settlement, satisfaction, or extension of the time of payment of his debts. Chapter 11 of the federal Bankruptcy Code provides for a device whereby, under the protection and supervision of the court, a financially… …   Black's law dictionary

• arrangement with creditors — A plan of a debtor for the settlement, satisfaction, or extension of the time of payment of his debts. Chapter 11 of the federal Bankruptcy Code provides for a device whereby, under the protection and supervision of the court, a financially… …   Black's law dictionary

• Composition with creditors — A Composition with Creditors is an agreement among several creditors of a debtor, usually a business. Usually, the agreement involves paying a lessened amount over a period of time. See also Company Voluntary Arrangement Individual Voluntary… …   Wikipedia

• Individual Voluntary Arrangement — In the UK, Individual Voluntary Arrangements (IVAs) are a formal alternative for individuals wishing to avoid bankruptcy. The IVA was established by the Insolvency Act 1986 and constitutes a formal repayment proposal presented to a debtor s… …   Wikipedia

• Companies' Creditors Arrangement Act — Citation RSC 1985, c. C 36[1] Enacted by Parliament of Canada …   Wikipedia

• company voluntary arrangement — Under Part I of the Insolvency Act 1986, a company can obtain breathing space against its creditors through a moratorium during which it can seek to recover its solvency or at least reach a compromise arrangement whereby the creditors agree with… …   Law dictionary

• arrangement — 1) A method of enabling a debtor to enter into an agreement with any creditors (either privately or through the courts) to discharge his or her debts by partial payment, as an alternative to bankruptcy. This is generally achieved by a scheme of… …   Big dictionary of business and management

• voluntary arrangement — A procedure provided for by the Insolvency Act (1986), in which a company may come to an arrangement with its creditors to pay off its debts and to manage its affairs so that it resolves its financial difficulties. This arrangement may be… …   Accounting dictionary

• voluntary arrangement — A procedure provided for by the Insolvency Act (1986), in which a company may come to an arrangement with its creditors to pay off its debts and to manage its affairs so that it resolves its financial difficulties. This arrangement may be… …   Big dictionary of business and management

• voluntary arrangement — UK US noun [C] FINANCE, LAW ► in the UK, an agreement between a person or company that owes money and is in financial difficulty and their creditors. This allows them to avoid being made officially bankrupt: »One way of reducing repayments is to… …   Financial and business terms

• individual voluntary arrangement — noun A formal alternative to bankruptcy involving a flexible contract with creditors …   Wiktionary