reorganization

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Related to Re-Organization: Corporate Reorganization

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 ?
The Company's Directors are now in a position to confirm that this re-organization was the final phase of a restructuring plan that Management has been implementing for some time.
The proposed re-organization plan would introduce mental health assessment and addiction counselling to the shelter.
Another benefit of isolating space in a re-organization is to allow for subleasing or assignment of a portion of the company's space in order to reduce expenses.
The most significant institutional dynamism is in educational institutions, where major reform and re-organization is needed in accordance with the knowledge produced by the intellectual dynamism.
OTCPK: HRNF) is pleased to announce that its board of directors has approved a stock re-organization plan for 2011, which includes no plan for a reverse split.
OTC: GNCP) ("The Company") announced on October 8, 2015 that the full details in respect of the Company's re-organization of its Mining Exploration Portfolio would be announced on October 12, 2015.
3kv/440volt transformer along with its allied work and re-organization of existing l.
He also warned all those who are involved in such illegal use of frequency and users of jamming devices to stop such unlawful activities, otherwise strict action will be initiated against them as per the Pakistan Telecommunication Act Re-Organization 1996.
This maximizes flexibility and minimizes the time required to re-shuffle space after re-organization, growth or downsizing.
OTC: PAIM) (OTC: PAIMP); Germany (GER: R1Z) (FWB: R1Z), announces that we have been working closely with the DTCC re-organization and compliance department on this 95% Mandatory Buy Back of PAIM stock.
It has been learnt that PPP Chairman Bilawal Bhutto-Zardari is going to undertake the re-organization of the party in Punjab, GB and Balochistan.