Reorganization
/ˌriːˌɔːrɡənaɪˈzeɪʃən/
Definitions
- (n.) The process of restructuring a company's operations, assets, or legal form to improve efficiency or address financial difficulties.
The company underwent a reorganization to streamline its departments and reduce costs.
- (n.) A formal legal procedure under which a financially distressed company restructures its debts and business affairs.
The firm filed for bankruptcy and entered reorganization to negotiate with creditors.
Forms
- reorganisations
Related terms
Commentary
Often used in both corporate management and bankruptcy contexts; clarity on legal vs. operational reorganization is advisable in drafting.
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.