# Bankruptcy Prepack

**IRI:** https://folio.openlegalstandard.org/RB7j6BtO4UzgzjH2pwD3XDi

## Labels

## Definition

A bankruptcy prepack, or prepackaged bankruptcy, is a type of bankruptcy filing where the debtor negotiates and obtains creditor approval for a reorganization plan before filing for bankruptcy. This streamlined process aims to expedite the bankruptcy proceedings and minimize disruptions to the debtor's operations.

## Sub Class Of

- https://folio.openlegalstandard.org/RDWZFPdf6vWiJ2dOzUIfCvb

**Deprecated:** False