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Deeds of arrangement: a better way forward

Article Abstract:

A deed of arrangement is an agreement between debtor and creditor whereby the debtor's property is realized and divided up among creditors according to terms specified in the arrangement. A deed of arrangement has several advantages over declaring bankruptcy: the business may continue to be a going concern and earn income; a deed of arrangement is faster and less expensive than declaring bankruptcy, there are no court or government examination or fees involved, and the individual does not suffer from the disabilities associated with bankruptcy with regards to continuing to trade or obtaining credit. Deeds of arrangement have become more attractive since value added tax relief is now available in all deeds of arrangement. Procedures for drawing up deeds of arrangement are discussed.

Author: Lundy, Simon
Publisher: Institute of Chartered Accountants in England & Wales
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1987
Laws, regulations and rules, Accounting and auditing, Debtor and creditor, Business failures

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Fresh pickings from the receiver

Article Abstract:

Statistics published in April 1991 by the University of Nottingham's Centre for Management Buyout Research (CMBOR) reveal that there were 465 management buyouts (MBOs) in the UK in 1990, up from 370 in 1989. However, the average value of an MBO has decreased from 3.898 billion pounds sterling in 1989 to 2.528 billion pounds in 1990. The number of MBOs going bankrupt increased to 62 in 1990 from 25 from 1989, and approximately 6% of all MBOs worth over 10 million pounds have failed. CMBOR statistics reveal that 12.7% of all MBOs in 1990 were of bankrupt firms, up from 0.5% of MBOs in 1989.

Author: Temple, Peter
Publisher: Institute of Chartered Accountants in England & Wales
Publication Name: Accountancy
Subject: Business
ISSN: 0001-4664
Year: 1991
United Kingdom, Finance, Reports, Statistics, Corporations, Management buyouts, University of Nottingham, Great Britain, Corporations, British

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Subjects list: Bankruptcy
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