reorganization

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Reorganization

The process of carrying out, through agreements and legal proceedings, a business plan for winding up the affairs of, or foreclosing a mortgage upon, the property of a corporation that has become insolvent.

Reorganization is ordinarily accomplished by way of a Judicial Sale of the property of the corporation. The purchasers then often form a new corporation to which substantially all assets of the old are transferred.

Cross-references

Bankruptcy.

reorganization

n. the implementation of a business plan to restructure a corporation, which may include transfers of stock between shareholders of two corporations in a merger. In bankruptcy, a corporation in deep financial trouble may be given time to reorganize while protected from creditors by the bankruptcy court. The theory is that if the business is able to get on its feet the creditors will eventually collect. (See: corporation, merger, bankruptcy)

reorganization

noun alteration, amelioration, betterment, change, conversion, improvement, melioration, overhauling, readjustment, rearrangement, rebuilding, reconstitution, reconstruction, rectification, reformation, rehabilitation, remaking, remodeling, restoration, restructuring, revising, revision, transformation
Associated concepts: bankruptcy, corporate reorganization
See also: development, progress, reclassification, reconversion, rehabilitation, repair, replacement
References in periodicals archive ?
Summary: The Women's Hospital officially announced the completion of its project to re-organize the Outpatient Department .
After detailing capitalism's evils, the author describes how socialism would re-organize society from the bottom up, explaining the basics of socialist planning, describing what socialist organizations should look like, and defending socialism against common criticisms.
With it, SharePoint administrators can define when specific content is migrated as well as re-organize and re-template SharePoint sites and lists easily as they migrate.
If drug courts already exist in the counties, the judge will re-organize them into a single court.
Privately held Country Coach, founded in 1968, has been in Chapter 11 bankruptcy since March, providing it with some breathing room from creditors while it sought to re-organize its finances and business model.
The board asked to re-organize priorities of the strategy.
While acknowledging that "some outstanding problems" required more problem-solving by the two countries, Messahel stressed the need to "make the effort required to re-organize and adapt the human ties and communication between Algeria and Tunisia.
With networking vendor Nortel Networks currently attempting to re-organize its operations under creditor protection, rival Avaya is laying-out the welcome mat for Nortel partners looking for a new networking equipment maker to call home.
For foreign companies planning to establish, expand or re-organize their pan-European operations in the Netherlands, the NFIA provides a wide range of services in areas such as economics, operational costs, fiscal and legal matters, and business locations, as well as key information onnational, local and regional development companies.
PROTECTING YOUR BUSINESS IN A PANDEMIC: PLANS, TOOLS, AND ADVICE FOR MAINTAINING BUSINESS CONTINUITY is for business managers and owners who would understand pandemics and how they disrupt business functions--and how to re-organize a business with safeguards against major disruptions.
It's just been very difficult for companies to either re-organize because they need new debt or they need an investor to come in who's holding back right now, or they just need somebody to buy them.
An affordable health service is not the only thing that citizens look for when heading to a hospital," Tahtamouni elaborated, adding, "quality is of essence which is why the public health sector should re-organize its efforts to control costs, funds and to enhance its cadres.