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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.

"The resettlement team ensured everyone understood this was a voluntary arrangement and that rooms were available should they decide to stay."

From BBC • May 29, 2022

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

From BBC • Nov. 29, 2020

He said he had tried to negotiate a settlement with the Bank of Ireland eight times, including offering to enter into a individual voluntary arrangement but said the bank had "rejected all our proposals".

From The Guardian • Jun. 13, 2012

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

Some were for abolition of the seigneurs' rights: some were for voluntary arrangement with the aid of law.

From The Winning of Popular Government A Chronicle of the Union of 1841 by MacMechan, Archibald

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