Definitions for "Voluntary Arrangement" Add To Word List
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Keywords: Creditors, Cva, Iva, Formal, Binding
this allows a company with financial problems to reach a formal binding agreement with its creditors.
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a formal and legally binding agreement between the company and its creditors
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a formal and legally binding agreement between you and your creditors
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an alternative to bankruptcy or liquidation which provides arrangements for repayment of all or part of the debtor's debts within a specified period. Such an arrangement requires the approval of a majority of the creditors.
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See Individual Voluntary Arrangement (IVA) and Company Voluntary Arrangement (CVA).
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