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Simple English definitions for legal terms

A reorganization

Read a random definition: ne unques son receiver

A quick definition of A reorganization:

Reorganization means changing the way a company is structured. This can happen for different reasons, like when a company owes a lot of money and needs to make a plan to pay it back. There are different types of reorganizations, like mergers or consolidations, where two companies become one. Reorganizations can also happen to make a company's taxes better.

A more thorough explanation:

Definition: A reorganization is a financial or tax restructuring of a corporation. It can involve a bankruptcy, merger, consolidation, recapitalization, or transfer of assets to another corporation.

Example 1: In a bankruptcy reorganization, a trustee creates a plan to repay the corporation's debts, which is approved by a court. This can involve reducing the principal amount of indebtedness owed to creditors, known as a "haircut" reorganization.

Example 2: In a tax reorganization, a corporation may merge or recapitalize in order to improve its tax treatment under the Internal Revenue Code. The Code classifies different types of reorganizations with different letters, such as A, B, C, D, E, F, and G reorganizations.

These examples illustrate how a reorganization can take different forms and serve different purposes, but ultimately involve restructuring a corporation's financial or tax situation.

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aw man i just went under review for gulc
snow
15:33
jazzy did you get an ii?
15:33
yeah! I did it on 10/24
15:33
i flew in from LA
15:33
so im hoping i got in :/
snow
15:33
thats exciting!! I love DC and hoping you get in today!!! :)
is the gulc II in person
15:33
THANK YOU :D I hope there's a wave, I'M SO IMPATIENT
15:34
I just did it in person cuz I couldb't get an appintment until Nov if I did it on zoom
concorde
15:34
@boglue: you're having a legendary cycle, i'd bet the house on you getting in
HopefullyInLawSchool
15:34
I was not YP from hastings (i got in) does that mean im stupid?
split you have UR in the portal?
ohhhh period i hope u get in
gtown baby talk to me ..... ghosting me for two months after interview ... baby what did i do :///
i just have complete
isnt that UR
¯\_(ツ)_/¯
15:35
@jackfrost11770: real if we don't get in today im gonna tweak
snow
15:35
dean andy got my app and spit on it then threw it away
MY GROUP INTERVIEW WAS END OF SEPTEMBER
i called them and they said i'll get a decision "100% this week" but i don't trust them
which school gulc???
YEAH
i'm tweaking bro
starfishies
15:36
this chat has been feral for gulc i hope you guys get ur answers soon
OMG WHATTT
dude and best part is i called them like a month ago and they told me i hadn't even been in review yet
like II has nothing to do w committee actually seeing ur app
it's just dean andy doing what he wants
@jackfrost11770: if you don't get an A by tomorrow, I'll go up to the admissions office for you
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