Pre-Packaged Bankruptcies Are Coming Into Vogue,
But Are They For Everyone?

Bankruptcy experts say that while a 'pre-pack' can speed the reorganization process for some, others might not be able to even consider the option

icWendichen asbestos defendant Shook & Fletcher Insulation Co. filed its petition for Chapter 11 recently in an Alabama bankruptcy court, it became yet another name among the list of 50-plus companies that have done so over the past two decades as a result of mounting asbestos liabilities.

But it did so in a manner that set it apart from its contemporaries.

Attached to its Chapter 11 petition, Shook & Fletcher filed …