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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Grorud's factory gates were shut after it entered a Company Voluntary Arrangement (CVA), a form of insolvency that means firms do not have to pay redundancies.
The firm was saved from collapse in March when it agreed a company voluntary arrangement (CVA) with its landlords to reduce rents at stores.
The move to drive down the costs of its rental bill is part of proposals outlined in a company voluntary arrangement (CVA), as its owners attempt to restructure the loss-making chain.
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.
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.
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.
The struggling off-licence hoped to restructure its debts through a company voluntary arrangement, but HM Revenue & Customs - a significant creditor - would not support the move.

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