reorganization

Definition

The action that may allow a company to emerge from Chapter 11 bankruptcy. Reorganization consists of a series of agreements between the company, its creditors, and the court which allow for the company to repay its debts and alter its structure to prevent the same problems form arising again.

Use reorganization in a sentence

The reorganization process would take quite along time and would require a lot of manpower from all of us.

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The chapter 11 reorganization was the only chapter filing available for the company who wanted a fresh start with governmental help.

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My boss told me not to worry about changes that would be made in reorganization after we emerged from bankruptcy because he felt I was too valuable an employee to lose.

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