Training Guide

Prepackaged and Prenegotiated Bankruptcies


Training Guide

Prepackaged and Prenegotiated Bankruptcies

Remote or in person

What’s Covered

  • Differences between a prepackaged bankruptcy ("prepack") and a prenegotiated bankruptcy
  • Advantages and disadvantages of each
  • The three types of prepacks: single track, dual track, and partial 
  • The process of prepacks and prenegotiated bankruptcy cases, including milestones and important documents

Before the Session

Prepare the Attendees

Send the attendees an invitation for the session. Include this link, which has the videos and exercise they’ll need to prepare.

Prepare Yourself

Watch the videos and read the exercise so you’re familiar with the Hotshot material.

During the Session

Part 1: Knowledge Check

Ask attendees these questions to ensure they understand the topic:

  • What are the differences between a prepack and a prenegotiated bankruptcy?
  • What are the advantages and disadvantages of each?
  • What’re the differences between a single track, dual track and partial prepack? 
  • What is the general process of a prepack and how does it differ from a prenegotiated case?
  • Are there any issues that come up for creditors during the prepack process?
  • What does the company have to show for a court to approve its prepetition solicitation of votes in a prepack?
  • What’s a Restructuring Support Agreement and why is it important?

Part 2: Group Exercise

Lead a group discussion based on the exercise. To encourage collaboration, divide the attendees into groups to discuss the exercise, then have a representative from each group summarize their views to the larger group. Call on people to share their thoughts and ask others to respond.

Tip for remote sessions: use your web conferencing system’s breakout room feature to divide people into groups.

Part 3: War Stories and Firm Specifics

Share your own experiences and guidance, including:

  • Anecdotes and war stories (e.g., about a near-disaster or a tough negotiation)
  • General practice tips (dos and don’ts)
  • Firm-specific guidance and practices

After the Session

To continue their learning, attendees can check out related courses in Hotshot’s Restructuring topic.

About Hotshot

Hotshot helps lawyers develop their legal, business, and technology skills through short videos, quizzes, and summaries, and we help law firms and law schools plan and deliver engaging training programs. Our customers include Am Law 200 firms, top law schools, and regional and international firms.

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