The “Super Speedy Prepack” Has Arrived… Is That a Big Deal?

FTI Consulting

Prepackaged (“prepack”) Chapter 11 filings have been prevalent in the last few years but it wasn’t until this year that we saw the debut of the “super speedy prepack," that is, a prepackaged filing that runs the course of reorganization in Usain Bolt-like time — let’s say a month or less from filing to emergence. It started in early February with FULLBEAUTY Brands, a prepack that had its plan confirmed within one day of filing and emerged from Chapter 11 three days later. If records were made to be broken, FULLBEAUTY didn’t hold its place in the record books for very long. Sungard Availability Services filed a prepack on May 1 and had its plan of reorganization confirmed within 19 hours of filing — one hour faster than FULLBEAUTY — and emerged from bankruptcy in less than two days. It was strange to see business media stories that covered these cases measuring their duration in terms of hours.

Please see full Publication below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

FTI Consulting

FTI Consulting on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:
*By using the service, you signify your acceptance of JD Supra's Privacy Policy.
Custom Email Digest
- hide
- hide

This website uses cookies to improve user experience, track anonymous site usage, store authorization tokens and permit sharing on social media networks. By continuing to browse this website you accept the use of cookies. Click here to read more about how we use cookies.