Many of the gigantic bankruptcies of 2009 did not follow the usual bankruptcy rules. In cases such as General Motors Corp.
Pre-packaged Bankruptcies: A Faster Way to Emerge from a Bankruptcy Involving Leases?
Traditional Chapter 11 reorganizations have proven to be costly and disruptive for corporate debtors. Section 363 sales have largely supplanted traditional Chapter 11 reorganizations because they are faster and more cost efficient. Though not a new concept, parties have recently opted to pursue "pre-packaged" bankruptcy filings or "pre-packs.
By
Michael P. Richman, Mark Salzberg And David G. MayerThis premium content is locked for LawJournalNewsletters subscribers only
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