Reorganization

{
  "id": "MLC-T-LAW-004230",
  "term": "Reorganization",
  "field": "Law",
  "definition": "A legal process, often under bankruptcy law, where a financially distressed company restructures its debt and operations to return to profitability. It involves negotiating with creditors, modifying contracts, and sometimes selling assets to create a viable business plan. Chapter 11 of the U.S. Bankruptcy Code provides the framework for corporate reorganizations.",
  "url": "https://mlchart.com/terminology/law/reorganization/"
}