February Was Boom Month For Ch. 11 Prepacks

Law360, New York (March 5, 2008, 12:00 AM EST) -- This past February alone has seen as many filings of prepackaged Chapter 11 petitions in U.S. bankruptcy courts — four — as were filed during all of 2007.

The four companies that voluntarily entered bankruptcy after consulting with their creditors in February 2008 were Sirva Inc., Holley Performance Products Inc., The Wornick Co. and Tricom SA, according to BankruptcyData.

By far the biggest of the four filings was Sirva's. The leading relocation company, among whose affiliates is Allied Van Lines, declared $1.4 billion in assets and...
To view the full article, register now.