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 ?
70/2012 for re-organizing the Ministry of Transport as follows:-
As insurance carriers look to the future, they've been re-organizing their businesses to ensure profitability from their operations rather than relying so heavily on investment yield.
Therefore, simply re-organizing work cells or moving and stacking inventory wasn't an option.
20 ( ANI ): Scientists have discovered that brain re-organizing starts earlier in girls, which could be the reason behind they maturing faster during the teenage years.
Throughout this next year, we plan to continue our discussions on re-organizing the IGTI leadership, while still placing a strong emphasis on having an excellent Turbo Expo each year, which is the key activity for our members.
The objective of the book is to explore how "food rhetoric is expanding our lexicon, revising our attitudes toward food, and re-organizing relationships with our earth and our bodies" (p.
We have new CEO and new management team and after re-organizing they asked what are we doing in India?
Khalil highlighted the need for re-organizing the aids operation in a manner that would be more fruitful since several sides are tackling the issue outside the framework of proper coordination, he noted.
According to BahE*eli, the bill may pave the way for re-organizing Turkey into federal states.
In August, chapter members reached out to the tornado-struck community of Joplin, Missouri, spending the day re-organizing stocks and supporting the relief effort.
They offer suggestions for shortening or lengthening sessions, as well as re-organizing the sessions to create groups with a specific focus.
Whether you are helping to launch a marketing function, re-organizing an existing department or simply looking to become more efficient with your highly functional team, approaching roles, tasks and initiatives under the lens of a marketing framework will help you better organize your efforts.