business reorganizations

Business reorganizations (Chapter 11)
When a debtor business entity realizes that it will become insolvent or will be unable to pay its debts as they mature, it can petition for reorganization under Chapter 11 of the Bankruptcy Code. The debtor business normally is permitted to continue its operations under court supervision until some plan of reorganization is approved by two-thirds of the creditors. If the business is insolvent at the time a petition for reorganization is filed, a majority of the shareholders must also approve the plan. If agreement cannot be reached, then the court will supervise liquidation proceedings for the business as in any other situation of bankruptcy.

Black's law dictionary. . 1990.

Look at other dictionaries:

  • Business and Industry Review — ▪ 1999 Introduction Overview        Annual Average Rates of Growth of Manufacturing Output, 1980 97, Table Pattern of Output, 1994 97, Table Index Numbers of Production, Employment, and Productivity in Manufacturing Industries, Table (For Annual… …   Universalium

  • business organization — Introduction       an entity formed for the purpose of carrying on commercial enterprise. Such an organization is predicated on systems of law governing contract and exchange, property rights, and incorporation.       Business enterprises… …   Universalium

  • Dilbert Gives You the Business — is number 14 in the Comic strip compilation series by Scott Adams and contains hundreds of comics divided into 39 sections with each one detailing a different part of business life. They are divided into Jobs which detail different jobs around an …   Wikipedia

  • Reorganization — Creating a plan to restructure a debtor s business and restore its financial health. The New York Times Financial Glossary * * * reorganization re‧or‧gan‧i‧za‧tion [riːˌɔːgənaɪˈzeɪʆn ǁ ˌɔːrgənə ] also reorganisation noun [countable, uncountable] …   Financial and business terms

  • reorganization — Creation of a plan to restructure a debtor s business and restore its financial health. Bloomberg Financial Dictionary See also: reorg; corporate action * * * reorganization re‧or‧gan‧i‧za‧tion [riːˌɔːgənaɪˈzeɪʆn ǁ ˌɔːrgənə ] also reorganisation …   Financial and business terms

  • Investment bank — Financial intermediaries who perform a variety of services, including aiding in the sale of securities, facilitating mergers and other corporate reorganizations, acting as brokers to both individual and institutional clients, and trading for… …   Financial and business terms

  • investment bank — Financial intermediaries who perform a variety of services, including aiding in the sale of securities, facilitating mergers and other corporate reorganizations, acting as brokers to both individual and institutional clients, and trading for… …   Financial and business terms

  • restructuring — The reorganization of a company in order to attain greater efficiency and to adapt to new markets. Major corporate restructuring transactions include mergers, acquisitions, tender offers, leveraged buyouts , divestitures, spin offs, equity carve… …   Financial and business terms

  • shell — [ʆel] verb shell out something phrasal verb [intransitive, transitive] informal to spend a lot of money on something, often when you do not really want to; =FORK OUT: shell out something for/​on • The insurance company refused to shell out for… …   Financial and business terms

  • bankruptcy proceedings — General term for the various types of proceedings under the Bankruptcy Code (11 U.S.C.A.) that are initiated either by an insolvent individual or business (termed a voluntary bankruptcy) or by creditors (termed an involuntary bankruptcy) seeking… …   Black's law dictionary

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”

We are using cookies for the best presentation of our site. Continuing to use this site, you agree with this.