voluntary arrangement

voluntary arrangement
voluntary arrangement UK US noun [C] FINANCE, LAW
in the UK, an agreement between a person or company that owes money and is in financial difficulty and their creditors. This allows them to avoid being made officially bankrupt: »

One way of reducing repayments is to enter into a voluntary arrangement with your creditors.

See also IVA(Cf. ↑IVA)

Financial and business terms. 2012.

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Look at other dictionaries:

  • voluntary arrangement — See company voluntary arrangement. Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 …   Law dictionary

  • voluntary arrangement — A procedure provided for by the Insolvency Act (1986), in which a company may come to an arrangement with its creditors to pay off its debts and to manage its affairs so that it resolves its financial difficulties. This arrangement may be… …   Accounting dictionary

  • voluntary arrangement — A procedure provided for by the Insolvency Act (1986), in which a company may come to an arrangement with its creditors to pay off its debts and to manage its affairs so that it resolves its financial difficulties. This arrangement may be… …   Big dictionary of business and management

  • Individual Voluntary Arrangement — In the UK, Individual Voluntary Arrangements (IVAs) are a formal alternative for individuals wishing to avoid bankruptcy. The IVA was established by the Insolvency Act 1986 and constitutes a formal repayment proposal presented to a debtor s… …   Wikipedia

  • company voluntary arrangement — Under Part I of the Insolvency Act 1986, a company can obtain breathing space against its creditors through a moratorium during which it can seek to recover its solvency or at least reach a compromise arrangement whereby the creditors agree with… …   Law dictionary

  • individual voluntary arrangement — See individual voluntary arrangement (IVA). An arrangement that allows a settlement between the insolvent individual and its creditors on agreed terms and, as a result, avoids the bankruptcy of the individual. A nominee supervises an IVA. The… …   Law dictionary

  • Fast Track Voluntary Arrangement — A Fast Track Voluntary Arrangement (FTVA), in the United Kingdom, is a binding agreement with a debtors creditors to pay all or part of the money owed to them. A debtor can only enter into it after they have been made bankrupt. In an FTVA the… …   Wikipedia

  • creditors' voluntary arrangement — See company voluntary arrangement. Related links equity investor loan Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010 …   Law dictionary

  • Simplified Individual Voluntary Arrangement — In the United Kingdom, a Simplified IVA (SIVA) is a proposed new form of IVA (Individual Voluntary Arrangement), which will be a formal alternative of clearing debt without being declared bankrupt. The new regime is likely to have two tiers:… …   Wikipedia

  • arrangement — UK US /əˈreɪndʒmənt/ noun ► [C, usually plural] a plan or preparation for how something will happen: make an arrangement »There wasn t enough time for him to make alternative arrangements. arrangement (for sb) to do sth »Some people have very… …   Financial and business terms

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