The Pros And Cons Of Prepackaged Bankruptcy

Law360, New York (October 2, 2013, 4:58 PM EDT) -- A prepackaged bankruptcy is a bankruptcy case that begins with the filing of a plan of reorganization that has already been accepted by creditors (or as to which solicitation of acceptances is already underway as of the date of the initiation of the bankruptcy case). The bankruptcy case is the means of implementing the accepted plan.

Generally, there are three other methods of restructuring a company against which to compare and contrast a prepackaged bankruptcy.

(1) An out-of-court restructuring is a restructuring that does not require...
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