私し的てき整せい理り

noun

voluntary liquidation; out-of-court workout

A legal/financial term referring to the process where a debtor negotiates directly with creditors to restructure or liquidate assets without court involvement, as opposed to formal bankruptcy proceedings.

• 中ちゅう小しょう企き業ぎょうの経けい営えい者しゃは、法ほう的てき整せい理りよりも私し的てき整せい理りを選えらぶことが多おおい。

  Managers of small and medium-sized enterprises often choose out-of-court workouts over formal legal proceedings.