Creditors' Agreement

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Definitions
Composition of Creditors
Composition of Creditors Debt Settlement Bankruptcy Alternative Small Businesses Unincorporated Businesses Creditors' Agreement
An alternative to bankruptcy, in which creditors agree to accept partial payment in full settlement of their claims. Most often seen in failures of small, unincorporated businesses, whose creditors reason that they will benefit more in profits on future sales to a going concern than they would on liquidation.
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