pre-packaged bankruptcy

noun
pre-pack·​aged bankruptcy | \ prē-ˈpa-kijd- \

Legal Definition of pre-packaged bankruptcy

: a bankruptcy plan that has been negotiated between the debtor and creditors prior to the debtor's filing for bankruptcy

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Cite this Entry

“Pre-packaged bankruptcy.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/pre-packaged%20bankruptcy. Accessed 20 Oct. 2020.

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