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Prepackaged Bankruptcy Offers Investors a Quick Return to Liquidity Chapter 11 bankruptcy cases are typically lengthy and expensive, potentially lasting years and costing millions of dollars in fees and expenses. One valuable technique to minimize a debtor’s time in Chapter 11, reduce cost and disruption, and still secure the benefits of a Chapter 11 plan is a prepackaged bankruptcy (also called a “prepack”). In a prepack, a debtor negotiates the terms of a chapter 11 plan and solicits votes prior to the bankruptcy filing.
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USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bankruptcy, Fiduciary, Subject-matter jurisdiction, Exclusive jurisdiction, Article III US Constitution, High Court of Justice, United States bankruptcy court, US District Court for SDNY, Chief executive officer, Trustee
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The Bottom Line:
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The Bottom Line:
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USA, Insolvency & Restructuring, Litigation, Kramer Levin Naftalis & Frankel LLP, Bankruptcy, Debtor, Security (finance), Statutory interpretation, Safe harbor (law), Debt, Maturity (finance), Fair market value, Commercial paper, US Code, ING Group, Westlaw, Enron, Second Circuit, United States bankruptcy court, Trustee
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A searchlight illumintaes those it catches: it hides in darker shadows those who escape.
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