contractual compromise
In the context of a company's insolvency, an agreement compromising the company's debts which requires the consent of all the creditors or at least that provision be made for all the dissenters, and the co-operation of each class of members if it involves reconstructing the company's capital. This makes it a difficult arrangement to implement.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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