An agreement between the bank and an indebted customer on how to proceed with the (partial) repayment of his or her debts and the closing of an account; a contractually agreed and in some cases – such as in the case of corporate customers threatened with insolvency – also notarially attested debt redemption agreement. – An agreement between the creditors of a highly indebted company – sometimes also said in relation to a state – with the aim of easing the debt burden under certain conditions (voluntary arrangement to restructure the debt of a company, under which payment is reduced). – See postponement deadline, bankruptcy, collection, financial distress, insolvency, credit, non-performing, credit loss, liquidity crisis plan. London procedure.

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University Professor Dr. Gerhard Merk, Dipl.rer.pol., Dipl.rer.oec.
Professor Dr. Eckehard Krah, Dipl.rer.pol.
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