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 ?
Recent Reorganizational Efforts and Official Guidance
In this Article, I offer an alternative hypothesis for why originalism thrives under certain constitutions--one that envisions originalism as a cultural phenomenon that may become popular regardless whether the underlying constitution is characterized as reorganizational or revolutionary.
Roosevelt wrote in his 1939 Reorganizational Plan that it was "necessary and desirable to group in a Federal Security Agency those agencies of the Government, the major purposes of which are to promote social and economic security, educational opportunity and the health of the citizens of the Nation.
In Chapter 4, which focuses on the phraseology of academic words, Paquot presents 12 rhetorical and reorganizational functions of academic vocabulary, showing how AKL can fulfill such functions in academic discourse.
Como sugiere West-Eberhard (2005: 6547), "a very large body of evidence shows that phenotypic novelty is largely reorganizational rather than a product of innovative genes".
Reorganizational learning: Conceptual tools from Weick's model of organizing.
These findings encouraged many hospitals to choose to undergo a reorganizational process through which traditional hierarchical nursing department structures have changed dramatically.
would not be impacted by the current reorganizational step.
The scope of activities included in military CS is also much broader than that of commercial logistics; any reorganizational concept must consider the nuances of military operations.
Longitudinal studies would help to explain why these compensatory functional processes are liable to be limited, as well as providing information which could be used to develop specific rehabilitation methods for enhancing these reorganizational processes and thus delaying the onset of the functional symptoms in patients with early MS
lt;p>Bartz is expected to name a new senior management team to help turn around the troubled Internet company, and to roll back reorganizational changes made by former CEO Jerry Yang and President Sue Decker, according to a report Friday evening in All Things Digital, a news blog affiliated with The Wall Street Journal.