Plan of Reorganization
/ˈplæn əv riˌɔːrɡənaɪˈzeɪʃən/
Definitions
- (n.) A detailed proposal filed by a debtor in bankruptcy outlining how it intends to reorganize and repay creditors.
The court approved the plan of reorganization, allowing the company to restructure its debts.
Forms
- plan of reorganization
Related terms
See also
Commentary
Typically filed in chapter 11 bankruptcy cases, the plan must be accepted by creditors and confirmed by the court to effectuate a legal reorganization.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.