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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“Pre-packaged bankruptcy.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/pre-packaged%20bankruptcy. Accessed 19 Oct. 2021.
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