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Meaning of “scheme of arrangement” in the English Dictionary

"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)
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