The idea behind a prepackaged bankruptcy plan is to shorten and simplify the bankruptcy process in order to save the company money in legal and accounting fees, as well as the amount of time spent in bankruptcy protection. The sooner the company can emerge from bankruptcy, the sooner it can implement its reorganization and return to generating revenues from its core operations.
Investment dictionary. Academic. 2012.
Look at other dictionaries:
prepackaged bankruptcy — a situation where a company and its creditors agree to a plan of reorganization before the company files a bankruptcy petition. In a true prepackaged bankruptcy, a plan of reorganization is circulated and approved by creditors before the petition … Glossary of Bankruptcy
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Prepackaged bankruptcy — A bankruptcy in which a debtor and its creditors pre negotiate a plan or reorganization and then file it along with the bankruptcy petition. The New York Times Financial Glossary … Financial and business terms
prepackaged bankruptcy — A bankruptcy in which a debtor and its creditors pre negotiate a plan of reorganization and then file it along with the bankruptcy petition. Bloomberg Financial Dictionary … Financial and business terms
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pre-pack — also prepackaged bankruptcy Before filing a bankruptcy case (usually a Chapter 11) debtor and creditors negotiate an agreed upon plan. The bankruptcy petition can then be filed and the plan proposed and confirmed with much less time and expense.… … Glossary of Bankruptcy
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