voluntary arrangement


Also found in: Financial.

voluntary arrangement

n
(Banking & Finance) 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
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Any attempt to interfere with this voluntary arrangement is simply political spite, part of an attack on trade unions and an attempt to undermine voluntary arrangements that have worked well for decades.
An Individual Voluntary Arrangement (IVA) is an agreement between you and your creditors to pay back a percentage of what you owe.
The sale process depends on landlords agreeing revised lease terms at a number of clubs under a Company Voluntary Arrangement (CVA).
To avoid going to the wall, the Polmont–based company entered into a company voluntary arrangement (CVA) last year and agreed to pay back 47 per cent – around PS164,000 – over five years.
HMRC had petitioned in September for the company to be wound up because of the unpaid tax bill, and owner Nigel Russell's attempt to get creditors to come to a voluntary arrangement (CVA) where they would receive around 45p out of every pound they were owed came to nothing.
OWNERS of Ruthin Castle have entered into a company voluntary arrangement with hopes the business will be saved.
The company voluntary arrangement (CVA) is designed to allow Travelodge to exit poorer performing leases while also free itself of a crippling debt burden.
Failure to secure a Company Voluntary Arrangement (CVA) consigned the club to liquidation last week.
On 7 May, Drydocks World - Dubai adjourned its scheduled Directions Hearing to allow it and its syndicated facility lenders the additional short period of time required to finalise the complex suite of financial documentation necessary to support Company Voluntary Arrangement ( CVAs ) restructuring proposals.
On 7 May, Drydocks World-Dubai adjourned its scheduled Directions Hearing to allow it and its syndicated facility lenders the additional short period of time required to finalise the complex suite of financial documentation necessary to support Company Voluntary Arrangement (CVAs) restructuring proposals.
However, the publication of a Company Voluntary Arrangement proposal means creditors could accept a deal on June 14 with the club able to be out of administration from July 12.
According to The Sun, a judge at London's High Court dismissed the bankruptcy petition in a one-minute hearing after being told Gazza, 43, had set up an individual voluntary arrangement to pay.

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