deed of arrangement
noun[C]
ukuspluraldeeds of arrangementLAW
in the UK, a writtenlegalagreementmade between apersonororganizationthatowesmoneyand thepeopleororganizationsthat theyowemoneyto. Theagreementstateshow thedebtsare to bepaid:
Entering into adeedofarrangementis a way ofavoidingbankruptcy.