What is another word for pre-packaged bankruptcies?
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Noun
Plural for a filing for bankruptcy by submitting to the court a virtually complete plan designed to avoid a protracted court-guided period of reorganization and debt restructuring
“Upon facing insurmountable financial challenges, the company chose to pursue a pre-packaged bankruptcy, presenting a meticulously crafted plan to swiftly resolve its debts and streamline the restructuring process.”