Reorganization

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Reorganization

Creation of a plan to restructure a debtor's business and restore its financial health.

Reorganization

The act or process of changing the terms on the assets and/or liabilities of a company. That is, a company may consolidate its debts, significantly change the size and scope of its operations, and take other measures to reduce the strain of continuing operations. Most companies reorganize either as part of a bankruptcy or as an effort to avoid it. If the company is reorganizing as part of a corporate bankruptcy, it is said to be in receivership.

reorganization

The restatement of assets to current market value along with a restructuring of liabilities and equity to reflect the reduction in asset values and negotiations with creditors. Reorganization is used as an attempt to keep a financially troubled or bankrupt firm viable. See also Chapter 11.
References in periodicals archive ?
The Women's Hospital (WH), a member of Hamad Medical Corporation (HMC) officially announced the completion of its project to re-organize the Outpatient Department (OPD) as part of a continuous drive to enhance its services.
We tried to make a pitch to re-organize it and it didn't go through.
It would be helpful to scale back some of the voluminous amounts of information and re-organize the content into stronger application areas such as curriculum, personnel resources and student services.
Late last year the city's administration presented a plan to the city commission that would re-organize the office space and upgrade the "security" at city hall.
You need to find time to research new software, document and re-organize internal procedures and develop a streamlined strategy.
Ellison also cast doubt on the effectiveness of IBM's reported decision to re-organize software sales around vertical markets, saying it was a strategy Oracle had tried and abandoned before.
If they do not understand, re-organize them into a teaching class.
Personally financed a study to re-organize 67 executive departments.
The first session, from 9:30 to noon, will address how and when the legal advisor should intervene, whether to re-organize or re-establish the business, and the consequences of a business' financial trouble for its associated companies.
The RMA will re-organize its current membership structure into three membership categories, including manufacturer, supplier and affiliate.
Although it is not within Woodward's remit as England coach to re-organize club rugby, he admitted it is a matter close to his heart.
Later in the memo, Combs notes that the Democratic Party will not re-organize until 1998 but that "the Republican Party begins its re-organization process at the precinct level this September.