pre-packaged bankruptcy

pre-packaged bankruptcy
To file for bankruptcy by submitting to the court a virtually complete plan designed to avoid a protracted court-guided period [of reorganization and debt restructure]; a "pre-pack" or "quick bankruptcy" or "surgery".

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  • prepackaged — pre‧pack‧aged [ˌpriːˈpækɪdʒd◂] also pre packaged adjective 1. if a product is prepackaged, it is prepared and wrapped before it is sold: • Imperial Foods Inc. operates a prepackaged sandwich and vending business. • prepackaged software 2. F …   Financial and business terms

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