Meaning of “scheme of arrangement” in the English Dictionary

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"scheme of arrangement" in Business English

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scheme of arrangementnoun [ C ]

uk us also scheme of reconstruction LAW, FINANCE

an agreement between a company and its shareholders or creditors for it to change its financial structure, for example when it is being bought by another company:

A shareholder meeting to vote on a scheme of arrangement to conclude the takeover was likely to be held in November.

(Definition of “scheme of arrangement” from the Cambridge Business English Dictionary © Cambridge University Press)