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 ?
It is at the micro-level that the greatest importance of reorganizational effects are felt.
Using the number of reorganizational changes (as opposed to the percentage of employees affected by them), the results reported here indicate that 40 percent of firms with 100-499 employees have implemented at least three forms of work reorganization.
At the annual reorganizational meeting of The Citizens Banking Company, held on the same day, the Board of Directors elected Mr.
Sony Music Entertainment is making sweeping layoffs, in the first reorganizational move by its new chairman and chief executive officer, Andrew Lack.
Reorganizational changes already approved for the current fiscal year will drop MTMC's on-board personnel strength even further.
Rank and file officers and the top brass's reluctance to fully support Williams's reform and reorganizational policies.
Under the BRAC plan, which was formulated on the same criteria as the current reorganizational plan, the Army came to the clear conclusion that the New York Division needed to be maintained," the Congress officer said.
Grillo, Digital Angel's Chief Executive Officer and President, commented, "Despite continuing challenges to our top line, posed by a tough environment for livestock producers and adverse currency effects, we were pleased to see that our reorganizational efforts are continuing to move us towards profitability.
At the Company's Reorganizational Meeting following the Annual Meeting of Shareholders, President Scott A.
Grillo, Digital Angel's Chief Executive Officer and President, commented, "Despite the extremely challenging operating environment in 2008, we managed to hold our revenues steady, and as a result of our company-wide reorganizational measures, we achieved positive cash flow from operations for the first time in many years.
We want to thank Jim for his leadership of the Company over the last three years and during this initial phase of our reorganizational efforts.
Included in operating expenses are reorganizational charges such as severance, termination, and recruitment fees amounting to approximately half of the increase on a year-over-year basis.