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n. the implementation of a business plan to restructure a corporation, which may include transfers of stock between shareholders of two corporations in a merger. In bankruptcy, a corporation in deep financial trouble may be given time to reorganize while being protected from creditors by the bankruptcy court. The theory is that if the business is able to get on its feet the creditors will eventually collect.

See also: bankruptcy  corporation  merger 

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The People's Law Dictionary by Gerald and Kathleen Hill Publisher Fine Communications