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)

References in periodicals archive ?
With one overall voice, it made it neater, cleaner and more nimble in terms of everything from sales to early-stage development," explains Hammer of the reorg, which helped inspire similar ones at rival players like Viacom and A+E Networks.
Listing will be subject to the closing of the reorg merger and to Walgreens Boots Alliance fulfilling all of the listing requirements of the NASDAQ Stock Market.
The reorg helped to shine light on a more obscure area of bankruptcy law, Strickland told WIPL.
The longtime 20th Century Fox TV titans are taking on oversight of all entertainment operations of the network in a reorg that follows Kevin Reilly's departure as Fox Broadcasting's programmer in chief in June.
It is still a good practice to periodically clean up extents, but there are other methods of reducing extents that are quicker and easier than REORG.
Halifax reorg: At Halifax Media's Gaston Gazette in Gastonia, N.C., Rick Martin has been named publisher and regional executive for North and South Carolina; previously, he was publisher of Freedom's News Herald in Panama City, Fla., and a regional vice president for Freedom Communications, a job he'd held since January.
Alternative Basis Step-up Transactions: Leveraging Disregarded Entities in an F Reorg.
price to TEV[,] Reorg: Ratio of Exit TEV to Filing TEV." Id.
How many of you have had good supervisors, only to see them traded for not-so-good ones as part of a reorg? Too often, the answers to "issues" and cited system or personnel "problems" are reorganizations--yet, how many of these times are such shifts just the result of power plays?
Pundits wonder whether this reorg is Microsoft's way of pre-empting such an eventuality.
* NBCUniversal lays off 3.5 percent of ad sales staff in wake of reorg
Top execs have emphasized that the reorg is aimed at better positioning the Mouse House for future growth.