From Longman Business Dictionarycramdowncram‧down /ˈkræmdaʊn/ noun [countable] American English FINANCELAWwhen a company that is BANKRUPT asks a court of law to decide how its CREDITORs (=people or companies who are owed money) should be paid, rather than trying to reach an agreement with themThe board will attempt to use cramdown procedures in court to impose the original repayment plan on shareholders.
