Arrangement

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Arrangement

1. An agreement between a person or company and creditors whereby the person or company pays a fraction of what he/she/it owes to the creditors and, in exchange, the creditors forgive the remainder of the debt. This helps the creditors recover some of the debt and helps the person or company avoid bankruptcy.

2. See: Treaty.
References in classic literature ?
Clare had first returned from the north, impressed with the system and order of his uncle's kitchen arrangements, he had largely provided his own with an array of cupboards, drawers, and various apparatus, to induce systematic regulation, under the sanguine illusion that it would be of any possible assistance to Dinah in her arrangements.
Then she would light her pipe, and leisurely go over her arrangements, looking things over, and discoursing upon them; making all the young fry scour most vigorously on the tin things, and keeping up for several hours a most energetic state of confusion, which she would explain to the satisfaction of all inquirers, by the remark that she was a "clarin' up.
The kitchen was a large brick-floored apartment, with a great old-fashioned fireplace stretching along one side of it,--an arrangement which St.
While these arrangements were in progress in the camp of Captain Bonneville, there was a sudden bustle and stir in the camp of Fontenelle.
Our arrangement is eminently satisfactory, except in one particular.
In a few days the answer arrived -- privately forwarded, of course, to Post-office, Whitby, by arrangement with my friend in London.
Ferguson, by an ingenious arrangement, combined the advantages of two balloons, without incurring their inconveniences.
This arrangement offered the advantage, that if gas had to be let off, so as to descend, that which was in the outer balloon would go first; and, were it completely emptied, the smaller one would still remain intact.
His own peasants put every hindrance they could in the way of this new arrangement, but it was carried out, and the first year the meadows had yielded a profit almost double.
We were also inspired by designs from the Northridge location of Edible Arrangements (a franchise started in Connecticut nine years ago that now has more than 500 outlets nationwide).
Virtually all stock option arrangements are potentially regulated by Sec.
Cross licensing arrangements generally involve two parties licensing a group of patents or other intellectual property.