pre-packaged bankruptcy

Definition of "pre-packaged bankruptcy"
  1. A bankruptcy strategy that involves an initial agreement between the party who owes money and the parties to whom money is owed before officially declaring bankruptcy
How to use "pre-packaged bankruptcy" in a sentence
  1. The business avoided a long court case by having a pre-packaged bankruptcy in place beforehand.
  2. The company used pre-packaged bankruptcy to quickly move through the bankruptcy process and minimize impact on their operations.
  3. Having a pre-packaged bankruptcy allowed the corporation to smoothly transition through bankruptcy court.

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