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Showing results for voluntary arrangement. Search instead for Voluntary+Departure+Reentry.

voluntary arrangement

British  

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

"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

The general secretary of Prospect, Mike Clancy, said the current voluntary arrangement is not sufficient.

From BBC • May 18, 2022

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

It happened less than a week before the club's administrator heads to the high court today to defend his company voluntary arrangement for creditors against the taxman's challenge.

From The Guardian • Aug. 2, 2010

And even when his insolvency becomes public and default occurs, a debtor may still avert bankruptcy if he is able to effect a voluntary arrangement with his creditors.

From Encyclopaedia Britannica, 11th Edition, Volume 3, Part 1, Slice 2 "Baconthorpe" to "Bankruptcy" by Various

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