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Prepackaged and pre-arranged bankruptcies.(credit column)(Column)
As economic conditions weaken, most commentators Predict that there will be a general increase in the level of bankruptcy filings over the coming months. Indeed, bankruptcy filings to date for 2008 exceed the levels experienced in 2007 and the trend is expected to continue. Another continuing trend is the increased use of prepackaged and/or pre-arranged bankruptcy cases designed to shorten the time that the debtor actually spends in Chapter 11.
In a typical bankruptcy case, the debtor files its Chapter 11 petition, goes through a process of stabilizing its business and adjusting its business model, potentially selling divisions, rejecting unprofitable or unwanted ...
- Trico Commences Prepackaged Bankruptcy; Seeks January Confirmation Hearing Date.
- Press release article from: PR Newswire December 21, 2004 700+ words
...increase its liquidity. The prepackaged bankruptcy case was filed today in...Chief Executive Officer. Debtor-in-Possession Financing...entered into a $75 million debtor-in-possession ("DIP...special guidelines for "prepackaged" bankruptcy cases, pursuant to which...
- CAI Wireless Commences Prepackaged Bankruptcy With Overwhelming Bondholder...
- Press release article from: Business Wire July 30, 1998 700+ words
...announced today that it had commenced a prepackaged bankruptcy with the overwhelming support of its...approximately $48 million of a new debtor-in-possession financing facility...their shares will be extinguished. A debtor-in-possession financing facility...
- Zenith Commences Prepackaged Bankruptcy With Strong Bondholder Support.
- Press release article from: PR Newswire August 23, 1999 700+ words
...announced in April, Zenith has entered into a binding agreement with Citicorp North America Inc. to provide a $150 million debtor-in-possession financing facility to cover the period during the prepackaged court proceeding and a new three-year...
- Viskase Companies, Inc. Announces Expiration of Exchange Offer And Filing of...
- Press release article from: PR Newswire November 13, 2002 700+ words
...salaries and benefits on a timely basis. Under Chapter 11, the Company may operate its business in the ordinary course as a debtor in possession, subject to prior Bankruptcy Court approval of transactions outside the ordinary course and certain other matters...
- An empirical examination of prepackaged bankruptcy.
- Magazine article from: Financial Management Betker, Brian L. March 22, 1995 700+ words
Prepackaged bankruptcy is an increasingly popular...financially distressed firms. A prepackaged bankruptcy (a "prepack") calls for...distressed restructurings in 1993. Prepackaged bankruptcy has been described as a hybrid...
- US COMPANY NEWS.(Trump Hotels and Casino Resorts considers prepackaged...
- Newspaper article from: High Yield Report May 10, 2004 700+ words
...might be weighing a prepackaged bankruptcy for his Atlantic City...heard talk about a prepackaged bankruptcy," said one bondholder...Speculation about a prepackaged bankruptcy being announced before...
- USG mulls prepackaged bankruptcy, but an out-of-court plan still possible....
- Magazine article from: The Bond Buyer O'Donnell, Kathie May 19, 1992 700+ words
...which is an easier standard, Mr. Gonring said. A prepackaged bankruptcy, where creditors agree to a plan before it is filed...than a regular bankruptcy filing, he said. Filing a prepackaged bankruptcy at the holding company level allows USG to maintain...
- Radio Unica Arranges 'Prepackaged Bankruptcy,' Sells 15 Stations.
- Newspaper article from: Knight Ridder/Tribune Business News October 7, 2003 700+ words
...subject to approval by a bankruptcy court, is part of a "prepackaged bankruptcy," the company said. Radio Unica has already reached...outstanding senior discount notes have agreed to support the prepackaged bankruptcy plan, the company said in a statement, and will receive...
