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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Musical Arranger Nelson Kole - began his career on the Las Vegas strip where he accompanied headliners such as Frank Sinatra, Dionne Warwick, Gladys Knight and the Pips and soon became musical director/arranger for Don Rickles and Ben Vereen.
"Pagbigyang Muli" by Erik Santos / Musical Arranger: Homer Flores
Composer and musical arranger Jerry Bilik scored the music for the TV shows Charlie's Angels and Starsky and Hutch and provided music for such films as Albert Brooks' Real Life and The Best Man.
Career: In 1971, Manilow met Bette Midler and became her pianist and musical arranger. Although he was initially more interested in being a songwriter than a performer, the following year he was given his own record contract and in 1974 scored his first big hit with the single Mandy - a song he'd only recorded at his label boss' Clive Davis insistence.
Fr Kelly said: "It's all go and I'm working away and there's been a producer and musical arranger over from Austria working with me.
The band collected PS500 for the appeal and, pictured with the giant cheque are, from left: Kelvin Benjamin and daughter Michele, musical arranger Dudley Nesbitt and Roy Noel, (tmc260913scanner/swimming/ivan)
Jamaican-born Andy formed his first band as a ten-year-old and moved to the US before returning to the Caribbean, where he worked as musical arranger for Hollywood legend Errol Flynn.
Important instrumental contributors include German smooth trumpeter Til Bronner, Swedish saxophonist and, here, musical arranger Magnus Lindgren, and Italian trumpeter Flavio Boltro.
Best known for his work as a producer and musical arranger for the Fab Four, it's hard to imagine them achieving quite so great a success without his guidance and skill.
"It might sound crazy, I know, but I loved The Muppets," said conductor, musical arranger, singer and Only Men Aloud creator, Tim Rhys-Evans.
(2) Jim Rice, left, musical arranger and co-creator of "Holidays at the 'hills," with co-creator and director/choreographer Russell Garrett.
Calling on his skills as a musical arranger, Ullian suggested he play bass, Pisano the piano, and Freedman the clarinet.