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 ?
Reorganized and redesignated 16 August 1954 as the 10th Military Police Detachment.
The former shareholders have lost their rights to any equity interest in the reorganized entity and receive such interest only with the consent of the real owners, the creditors who have become the new shareholders.
56 shares of common stock in the Reorganized Company for each share of common stock held on the applicable record date, in exchange for a cash payment of $2.
We've closed a lot of stores, we have reorganized and cut a lot of our costs,'' said Gary Larkins, president of House of Fabrics.
The newly reorganized and renamed Public Company common stock shares have been assigned a new CUSIP Number: 34659W102, and ISIN Number: US34659W1027.
City officials have named San Bernardino's planning director to head the reorganized Department of Environmental Services.
Upon emergence, the participants in the $130 million rights offering will hold 92% of the common stock in the newly reorganized company.
The common stock shares of the reorganized and renamed Public Company, Forster Drilling Corporation, will trade on the Electric Bulletin Board (OTC BB) under a new symbol yet to be assigned, and the newly reorganized Public Company common stock shares will be assigned a new CUSIP number.
The Pre-Completion of the Plan shareholders of the Private Company will own up to 43,055,463 common stock shares of the newly reorganized Public Company, or up to approximately 95.
In the third quarter of 2005, Epicus emerged from its Chapter 11 bankruptcy proceedings as a newly reorganized company, operating as a Competitive Local Exchange Carrier (CLEC) and providing telecommunications services to approximately 21,000 small business and residential customers.
French"), a privately-held, leading global supplier of high pressure die-cast aluminum automotive components and assemblies, today filed its Plan of Reorganization ("the Plan") and Disclosure Statement that outline how the company will satisfy claims in its Chapter 11 case and emerge successfully as a reorganized company.
In 2006 Tensleep's business activities are designed to focus on its reorganized business.