reorganization plan

Definition of "reorganization plan"
  1. A proposal made to a bankruptcy court by a corporation aiming to rearrange its debts and structure under Chapter 11 of the Bankruptcy Code, laying out the anticipated restructuring process
How to use "reorganization plan" in a sentence
  1. The struggling corporation presented its reorganization plan to the bankruptcy court for approval.
  2. If the reorganization plan is accepted, the company can avoid liquidation and continue operations.
  3. Creditors carefully reviewed the details of the reorganization plan before deciding on their vote.

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