plan of reorganization

plan of reorganization
USA
Also known as plan.
A comprehensive document prepared by a debtor or its creditors detailing how the debtor will continue to operate or liquidate, and how it plans to pay the claims of its creditors over a fixed period of time. The plan must categorize claims into various classes, describe the treatment of each class under the plan and specify how the debtor will implement its terms. The plan, along with a court-approved disclosure statement, is distributed to creditors for voting. The bankruptcy court and creditors must approve the plan before it is executed.

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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  • plan of reorganization — the document setting forth how a bankrupt company plans to satisfy its creditors. The plan of reorganization is the cornerstone of a successful Chapter 11 bankruptcy (Glossary of Common Bankruptcy Terms) A debtor s detailed description of how the …   Glossary of Bankruptcy

  • Plan for reorganization — A plan for reorganizing a firm during the Chapter 11 bankruptcy process. The New York Times Financial Glossary …   Financial and business terms

  • plan for reorganization — A plan for reorganizing a firm during the Chapter 11 bankruptcy process. Bloomberg Financial Dictionary …   Financial and business terms

  • plan — n 1: a diagram of an area of land (as a subdivision) filed in the registry of deeds see also plot plan 2: a detailed program; esp: one made under chapter 13 of the Bankruptcy Code that places future earnings under the control of a trustee,… …   Law dictionary

  • reorganization — the resolving of a Chapter 11 bankruptcy by the emergence of the debtor as a viable business. Generally, the company agrees with creditors on a plan for payment of their claims (plan of reorganization) and emerges from Chapter 11 after the plan… …   Glossary of Bankruptcy

  • 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

  • reorganization — Act or process of organizing again or anew. People ex rel. Barrett v. Halsted Street State Bank, 295 IlLApp. 193, 14 N.E.2d 872, 876. General term describing corporate amalgamations or readjustments occurring, for example, when one corporation… …   Black's law dictionary

  • reorganization — re·or·ga·ni·za·tion /ˌrē ˌȯr gə nə zā shən/ n 1: the act of reorganizing: the state of being reorganized 2 a: the rehabilitation of the finances of a business in accordance with a plan approved by a bankruptcy court under the provisions of… …   Law dictionary

  • reorganization plan — n: a plan submitted for approval to a bankruptcy court by a corporation seeking to reorganize under chapter 11 of the Bankruptcy Code that sets out the proposed restructuring Merriam Webster’s Dictionary of Law. Merriam Webster. 1996.… …   Law dictionary

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