voluntary arrangement

noun

1. 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

Example Sentences

And this manifestly according to a mutual understanding and a voluntary arrangement.

From Project Gutenberg

This voluntary arrangement was, therefore, a bad beginning; but the accidental omens were worse.

From Project Gutenberg

And all this by mutual understanding and voluntary arrangement.

From Project Gutenberg