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voluntary arrangement

British

noun

law a procedure enabling an insolvent company to come to an arrangement with its creditors and resolve its financial problems, often in compliance with a court order

"Collins English Dictionary — Complete & Unabridged" 2012 Digital Edition © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009, 2012

Example Sentences

Examples are provided to illustrate real-world usage of words in context. Any opinions expressed do not reflect the views of Dictionary.com.

A voluntary arrangement is currently in place which means every High Street should have free access to cash within 1km.

From BBC • Aug. 17, 2023

It hired auditors to prepare for the company voluntary arrangement earlier in 2020.

From BBC • Nov. 29, 2020

Ted Richardson, the long-serving chairman, entered an individual voluntary arrangement in July and is awaiting the ruling of a Rugby Football League tribunal which could force him to step down from the board.

From The Guardian • Sep. 22, 2010

Effectively relegated to the Championship following Saturday's home defeat against Sunderland, the east Yorkshire club are £35m in debt and face the grim probability of entering either administration or a creditors' voluntary arrangement.

From The Guardian • Apr. 26, 2010

The labour contribution of superintendents or directors shall, according to a voluntary arrangement with every individual concerned, be reckoned us equal to a certain number of hours of work per day.

From Freeland A Social Anticipation by Hertzka, Theodor

Definitions and idiom definitions from Dictionary.com Unabridged, based on the Random House Unabridged Dictionary, © Random House, Inc. 2023