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 ?
Chapter 12 recognizes the unique situation that family farmers face when reorganizing through bankruptcy proceedings.
As other companies have done, Amersham is reorganizing its business units by application and end user instead of product type.
This book shows the way out, giving companies a clear road map to reorganizing a customer-led company.
Chief Cabinet Secretary Yasuo Fukuda told reporters later that the reorganizing of governmental corporations is one of the major challenges facing the administration.
* International Flavors and Fragrances (IFF) is reorganizing in order to fulfill its vision of becoming its customers' most valued resource for consumer-preferred flavors and fragrances and to drive long-term growth and shareholder value.
In short, you don't necessarily have to beef up staff significantly, but you should consider reorganizing and reassigning them.
Entities operating under chapter 11 with the expectation of reorganizing as going concerns and entities emerging from chapter 11 pursuant to court-confirmed plans should follow the SOP's guidance in preparing financial statements based on generally accepted accounting principles, either during court proceedings or on emerging from chapter 11.
The impetus for reorganizing the Forest Service came from Congress, but the legislation's purpose is not spelled out.
Alcatel is reorganizing not only its clients' networks but also reshuffling its own management team.
The Federal Aviation Administration is reorganizing its Air Traffic Organization.
In 1999, the company implemented a $1 billion cost-reduction and productivity improvement plan that included retooling operations, paring business lines from 48 to 4, reorganizing into three geographic regions and focusing on global industry expertise.