Interim Order

An Interim Order in the context of Voluntary Arrangements is a temporary legal measure that protects a company in financial trouble while it proposes a plan to settle its debts. This order prevents creditors from taking immediate action, such as demanding payment or initiating legal proceedings, giving the company time to organize its financial restructuring. It allows the business to propose a debt repayment plan to creditors without the pressure of immediate financial demands. Essentially, it creates a breathing space for the company to find a viable solution to its financial issues.