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单词 scheme of arrangement
释义

scheme of arrangement

Definition
Voluntary agreement between a solvent debtor and consenting creditors under which the debtor's assets and/or income are applied proportionately in satisfaction of the debts. This arrangement is normally governed by the ordinary law of contract, and is meant to serve as a more advantageous alternative to the debtor's bankruptcy. See also deed of arrangement.
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更新时间:2025/4/19 10:24:20