reorganization in bankruptcy
31reorganization — noun ADJECTIVE ▪ fundamental, major, massive, radical ▪ financial, structural ▪ corporate, internal …
32reorganization — 1) In the US, the process of restructuring a company that is in financial difficulties. Protection against creditors can be sought under chapter 11 of the Bankruptcy Reform Act (1978) while such a reorganization back to profitability is being… …
33reorganization — noun 1. the imposition of a new organization; organizing differently (often involving extensive and drastic changes) a committee was appointed to oversee the reorganization of the curriculum top officials were forced out in the cabinet shakeup •… …
34Bankruptcy Reform Act — 1978 A US law that brought about major changes to bankruptcy law after 40 years of the previous legislation. The reforms made it easier to file petitions, amended the previous absolute rule giving priority to secured creditors in all cases, and… …
35Reorganization — A process designed to revive a financially troubled or bankrupt firm. A reorganization involves the restatement of assets and liabilities, as well as holding talks with creditors in order to make arrangements for maintaining repayments.… …
36reorganization — The restructuring of a corporation, which may include share transfers between shareholders of two corporations, leading to a merger. In bankruptcy, a corporation in financial trouble may be given time to reorganize while being protected from… …
37reorganization — /ree awr geuh neuh zay sheuhn/, n. 1. the act or process of reorganizing; state of being reorganized. 2. Finance. a reconstruction of a business corporation, including a marked change in capital structure, often following a failure and… …
38reorganization — re•or•gan•i•za•tion [[t]ˌri ɔr gə nəˈzeɪ ʃən[/t]] n. 1) the act or process of reorganizing; state of being reorganized 2) bus a restructuring of the financial management of a company, esp. following bankruptcy • Etymology: 1805–15 re•or′gan•ize …
39Chapter 11 bankruptcy — Reorganization bankruptcy mainly for businesses, either voluntary or involuntary, in which the debtor remains in possession and control of the business. The creditors and the debtor agree on a plan that permits the business to continue after… …
40Chapter 13 bankruptcy — Reorganization bankruptcy for individual consumers that may allow the full repayment of debts. Individuals keep their property and use their income to pay their debts (partly or fully) over three to five years, according to a plan presented to …
