Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What is a pre‐packaged Chapter 11 filing?

April 26, 2017chapter 11 filing pre-packaged

0

Posted

What is a pre‐packaged Chapter 11 filing?

1 Answer

0

Posted

In a “prepackaged” Chapter 11 filing, a company (in this case, a baseball club) obtains any necessary approvals prior to filing. Because so much of the work has been done in advance of the filing, the court‐supervised portion of the process can be completed in a much shorter period of time than other Chapter 11 reorganizations, and with less disruption to the operations of the business.