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 ?
Besides analyzing the internal life of the labour movement--its history, strategies and struggles, Dimension has been no less concerned with the plight of unorganized workers, with labour legislation and labour standards and most particularly with how capital organizes and re-organizes the workplace to extract more profit from its workers.
If you're not grabbing in your breath and identifying yourself as having an object-level body, you can push one another through the arm without tensing as your whole structures moves and re-organizes itself so that you don't feel increased pressure coming toward you.
Fund Re-Organizes Into RS Capital Appreciation Fund Respected Management Team Joins RS