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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.




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)


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 unsecured creditors are asking a bankruptcy court judge to end the company's ex-clusive right to put forth a reorg plan.
3, a comprehensive upgrade for efficiently unloading DB2 data directly from tablespaces or from image copies; PLATINUM Fast Check, a new DB2 utility that monitors and controls the consistency of DB2 databases; and PLATINUM Rapid Reorg 4.
Because without that level of commitment, operational inertia will stop your reorg dead in its tracts, despite the best of intentions.
Average ratio minus reorg Average ratio minus reorg
FACT 2 uses parallel unload technology and other techniques to: accelerate extract performance; produce portable flat files; and, facilitate large ETL and reorg operations.
Both companies' products fit seamlessly into existing Oracle environments -- from high-volume ETL and reorg operations to complex, multi-table-join queries.