Reaching an individual voluntary arrangement with your creditors is an alternative to bankruptcy.

In the last 10 days, he added, Venezuela and Chile reached agreement with their private creditors.

Yesterday, Marvel said that it had failed to reach a deal with its creditors.

Since then, Argentina has not shown an excess of eagerness to reach a deal with its creditors.

That policy called for lending to countries in difficulty before they reached agreements with their private creditors.

Argentina faces other tough problems that could undermine its effort to reach a deal with its creditors.

- Greece was warned that time is running out to reach a deal with its creditors.

On April 16, 2009, the company filed for Chapter 11 bankruptcy, after failing to reach a deal with its creditors.

In 1979 he reached an agreement with his creditors, leaving him with 3 sewing machines to start again.

Countries, of course, aren't liquidated if they fail to reach an agreement with their creditors.