单词 | reorganization |
释义 | reorganization 1) The process of restructuring a US 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 undertaken. If creditors cannot agree on a plan, the company's assets are liquidated and the proceeds distributed by the Bankruptcy Court. 2) The restructuring of a larger organization without the formation of a new company. |
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