5 Tips For A Perfect Prepackaged Bankruptcy Plan

Law360, New York (February 3, 2014, 4:35 PM EST) -- After a few high-profile prepackaged bankruptcy cases in the past year, attorneys need to avoid easy mistakes when dealing with debtholders and lock up support from their clients’ major creditor constituencies as they embark on this type of Chapter 11, experts say.

A prepackaged bankruptcy, or “prepack,” is attractive to attorneys and debt-ridden businesses for the obvious reasons — it saves debtors money and allows negotiations with creditors to be conducted without a judge or the public keeping tabs on their every move. But it requires...
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