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 ?
Over the last 6 months my focus has been to re-organize and re-structure the team, ensure there is a clear measure of outcome based efforts and focus on branding, delivery excellence and the product revamp.
The logistics agenda has shifted in priorities over the last 10 years, especially as slower trade growth puts pressure on the logistics industry to re-organize its networks and innovate.
Europe must re-organize after the Brexit, Ulrike Guerot tells DW.
Our economy is textile based and hence, value addition is imperative to re-organize this sector on modern scientific lines.
But if a user doesn't like the screen layout or wishes to re-organize tabs and fields to match his/her job function, he/she can easily make these changes.
The country can re-organize jobs by following a draft law called (Economic Activities Law), which allows national economic bodies to be independent on financial and administrative levels, while also granting them the right of self-financing, Al-Sabeeh, representing His Highness the Amir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah at the national conference on modern state jobs from an economic point of view, said on Monday.
But how can people transform their circumstances in a way that allows them to re-organize production and, at the same time, fulfill their human potential?
The guidelines will give viable businesses valuable breathing room, allowing them to re-organize and emerge from the process stronger than before, preserving the jobs and rights of their employees.
s an international organization bringing people from around the world and some of them are German nationals, they did not only come to participate in the war, they are here to learn how to fight and how to recruit others and re-organize.
In November 2007, another Royal Decree was issued to re-organize the Royal Charity Organization, with His Majesty the King as the Honorary President of the organization and His Highness Shaikh Nasser bin Hamad Al Khalifa as the Chairman of the Board of Trustees.
We were not planning to upgrade the wi-fi at Mill Pond for another two years, so while we're pleased to be receiving the money now, committing the $220,000 in matching funds means we need to strategically re-allocate some of the funds in our proposed FY 16 budget and re-organize some district planning.
The manifesto also pledges to re-organize the state administration in line of the Tamasec system in Singapore in order to increase efficiency and productivity in the public sector.