Voluntary Arrangement


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Voluntary Arrangement

An agreement between a debtor and one or more creditors whereby the debtor repays according to a certain schedule arranged between all parties. A voluntary arrangement benefits creditors because it ensures that they are repaid. However, it also benefits the debtor because it keeps him/her out of bankruptcy.
References in periodicals archive ?
A meeting last week to vote on seven company voluntary arrangements was suspended to give Arcadia more time to negotiate with landlords.
TPG Capital also owns restaurant chain Prezzo, which recently secured the backing of creditors for a Company Voluntary Arrangement (CVA).
The "Company Voluntary Arrangement" will be voted upon by creditors.
To avoid going to the wall, the Polmont–based company entered into a company voluntary arrangement (CVA) last year and agreed to pay back 47 per cent – around PS164,000 – over five years.
The Directors of David Price Food Services Ltd can confirm that on the 5th September 2012, following a majority vote in excess of 99%, a CVA (Creditors Voluntary arrangement) has been agreed.
Failure to secure a Company Voluntary Arrangement (CVA) consigned the club to liquidation last week.
On 7 May, Drydocks World - Dubai adjourned its scheduled Directions Hearing to allow it and its syndicated facility lenders the additional short period of time required to finalise the complex suite of financial documentation necessary to support Company Voluntary Arrangement ( CVAs ) restructuring proposals.
On 7 May, Drydocks World-Dubai adjourned its scheduled Directions Hearing to allow it and its syndicated facility lenders the additional short period of time required to finalise the complex suite of financial documentation necessary to support Company Voluntary Arrangement (CVAs) restructuring proposals.
However, the publication of a Company Voluntary Arrangement proposal means creditors could accept a deal on June 14 with the club able to be out of administration from July 12.
According to The Sun, a judge at London's High Court dismissed the bankruptcy petition in a one-minute hearing after being told Gazza, 43, had set up an individual voluntary arrangement to pay.

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