A
voluntary agreement for a company is a procedure
whereby a plan of reorganisation or composition in
satisfaction of debts, is put forward to creditors
and shareholders. There is limited involvement by
the court and the scheme is under the control of a
supervisor.
(Please Note: The
definitions are not intended to be exhaustive
summaries of the Law. They are based on material
from The Insolvency Act 1986 , and other Acts
dealing with this subject.)