"Reorganization bankruptcy" refers to a legal process where a company or individual facing financial difficulties can restructure their debts and operations in order to continue operating and repay creditors over time. It allows for a fresh start while maintaining operations and renegotiating the terms of debts.
Full definition
Synonyms for individual words can be found below.
«reorganization»
«bankruptcy»
Sentences with «reorganization bankruptcy»
- Also known as reorganization bankruptcy, it's designed to help you pay back some or all of your debts through a repayment plan that lasts between three and five years. (valuepenguin.com)
- It is quite similar to Chapter 13, the main form of reorganization bankruptcy for consumers, but is tailored only to certain individuals. (debthelp.com)
- Often this means the end of the company, however, even if they file for reorganization bankruptcy rather than a complete protection from debtors and any debts owed. (nodebttoday.com)
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