Reorganisation
/ˌriːˌɔːɡənaɪˈzeɪʃən/
Definitions
- (n.) The process of restructuring the legal or operational framework of a company or entity, often to improve efficiency or comply with new regulations.
The company underwent a reorganisation to streamline its management structure.
- (n.) A formal procedure under corporate law where a corporation alters its capital structure, subsidiaries, or operations to address financial difficulties or strategic changes.
The reorganisation was approved by the creditors to avoid insolvency.
Related terms
See also
Commentary
Use in legal contexts typically involves formal statutory or procedural changes rather than informal operational changes; distinct from insolvency but often related.
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.