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 ?
Analysis of judicial discretion, power and practice in reviewing the terms of judicial reorganisation plans and
This reorganisation refers to the parent company Dannemora Mineral AB and the subsidiary Dannemora Magnetit AB.
Mr Dinsdale said: "Now that the Government has confirmed that unitary reorganisation is to take place, it's important to pick up the pace of planning for the new council."
Northwest anticipates a loss for the months of September through to December, excluding reorganisation items.
Common shares of BLJ, BNJ, or MYJ acquired after 5 June 2018 will not be entitled to the distributions and neither will they be eligible to receive a distribution until an initial distribution is declared on the Combined Fund after the closing of the reorganisations. The Combined Fund is expected to declare its first monthly distribution on 2 July 2018 and this will be paid on 1 August 2018.
Consistent with the reorganisation, the bank replaced Bank of the Ozarks Inc.
Frontier Airlines also said that it expects that the reorganisation will be tax-free to its existing shareholders.
The business operations, directors and executive officers of the company will not change as a result of the reorganisation.
The company's business operations and executive officers will not change as a result of the reorganisation.
The common stock of Frontier Airlines Holdings Inc is expected to continue to trade on the Nasdaq National Market under the symbol "FRNT" after the reorganisation.
PA Resources AB (STO: PAR) (OSE: PAR) announced on Thursday that it has filed a filed a petition with the Stockholm District Court to extend the corporate reorganisation by a further three months.
The company said in a regulatory filing on Friday (13 February) that it intended to form its own reorganisation plan for the airline, which filed for bankruptcy protection nearly a year ago.