Home | Databases | WorldLII | Search | Feedback Edited Legal Collections Data

"Prepacks" [2019] ELECD 2098; in Lubben, Stephen (ed), "American Business Bankruptcy" (Edward Elgar Publishing, 2019) 163

Book Title: American Business Bankruptcy

Editor(s): Lubben, Stephen

Publisher: Edward Elgar Publishing

Section: Chapter 19

Section Title: Prepacks

Number of pages: 4

Abstract/Description:

A prepackaged plan - or more simply, a “prepack” - is a chapter 11 case that is filed with voting already complete for some classes of a proposed plan. The debtor files the case, and immediately asks the court to schedule a combined hearing on both its disclosure statement and confirmation of the plan. Typically such a hearing will be scheduled about a month after the petition date. If all works as planned, the debtor will be in and out of bankruptcy before most counterparties will even notice.