Definition of "out-of-court" [out-of-court]

• Managed or agreed upon between disputing parties without a judicial decision: reached an out-of-court settlement. (adjective)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

• "The publishers want Borders to use the bankruptcy process to close stores and become more viable rather than putting a "Band-Aid" on its problems with the current out-of-court deal on the table, this person said."
• "Kirkland has advised on large bankruptcies including United Airlines Inc. and out-of-court restructurings such as Keystone Automotive."
• "The company has been searching for a buyer or investor to bail it out since February, when an out-of-court restructuring reshuffled its mounting debt load."