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 ?
Dinah, who required large intervals of reflection and repose, and was studious of ease in all her arrangements, was seated on the kitchen floor, smoking a short, stumpy pipe, to which she was much addicted, and which she always kindled up, as a sort of censer, whenever she felt the need of an inspiration in her arrangements.
Seated around her were various members of that rising race with which a Southern household abounds, engaged in shelling peas, peeling potatoes, picking pin-feathers out of fowls, and other preparatory arrangements,--Dinah every once in a while interrupting her meditations to give a poke, or a rap on the head, to some of the young operators, with the pudding-stick that lay by her side.
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.
Captain Bonneville now made his arrangements for the autumn and the winter.
While these arrangements were in progress in the camp of Captain Bonneville, there was a sudden bustle and stir in the camp of Fontenelle.
In order that the whole of the king's household should enter Vaux, four hours at least were necessary, owing to the different arrangements.
I notice that people always make gigantic arrangements for bathing when they are going anywhere near the water, but that they don't bathe much when they are there.
But one could not tell from that significant look whether he agreed or disagreed and was satisfied or not with the arrangements.
But even if he also took up a position in the Thuerassa, he merely saves us a great deal of trouble and all our arrangements to the minutest detail remain the same.
The terms of the Arrangement Agreement were described in the joint news releases of EGX and Odin dated August 3, 2016 and August 4, 2016.
This exception requires a determination of whether TLC (1) incurred the per-diem expenses "under a reimbursement or other expense allowance arrangement with such other person" (its trucking company clients) and, if so, (2) "account[ed] .
The arrangement takes time and patience, but the results make it all worthwhile as it looks fabulous and rates raves.