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.
Having made all these arrangements, the four partners, on the first of July, signed a formal manifesto, stating the alarming state of their affairs, from the non-arrival of the annual ship, and the absence and apprehended loss of the Beaver, their want of goods, their despair of receiving any further supply, their ignorance of the coast, and their disappointment as to the interior trade, which they pronounced unequal to the expenses incurred, and incompetent to stand against the powerful opposition of the Northwest Company.
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.
The result was that, through the captain's arrangements, the king, on arriving at Melun, saw himself at the head of both the musketeers and Swiss guards, as well as a picket of the French guards.
In order that the whole of the king's household should enter Vaux, four hours at least were necessary, owing to the different arrangements. The king, therefore, who was boiling with impatience, hurried forward as much as possible, in order to reach it before nightfall.
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. Next to Weyrother sat Count Langeron who, with a subtle smile that never left his typically southern French face during the whole time of the reading, gazed at his delicate fingers which rapidly twirled by its corners a gold snuffbox on which was a portrait.
Either he is retreating, which is the only thing we need fear, or he is changing his position." (He smiled ironically.) "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."
Receipt of the Final Order follows the previously announced approval of the Arrangement by the holders of Common Shares (the Shareholders) at a special meeting held for such purpose on August 2, 2018 (the Meeting).