workout is an arrangement, outside of bankruptcy, by a debtor and its creditors for payment or re-scheduling of payment of the debtor's obligations. Usually applies to an informal agreement between a business and its creditors, although it can be a formal agreement and it can apply to consumer debtors also.
Barry Goldsmith
| APA | Barry Goldsmith. (2010). workout. Retrieved September 22, 2026, from http://smartdefine.org/workout/definitions/1166606 |
| Chicago | Barry Goldsmith. 2010. "workout" http://smartdefine.org/workout/definitions/1166606 (accessed September 22, 2026). |
| Harvard | Barry Goldsmith 2010, workout, Smart Define, viewed 22 September, 2026, <http://smartdefine.org/workout/definitions/1166606>. |
| MLA | Barry Goldsmith. "workout" 21 October 2010. Web. 22 September 2026. <http://smartdefine.org/workout/definitions/1166606> |