This resource kit provides an overview of prepackaged bankruptcies. When a company is in financial distress, management and its professional advisors will need to determine the most effective and efficient path to achieve a resolution in a timely fashion. A company seeking to liquidate its assets can file a Chapter 7 bankruptcy case or a plan of liquidation in a Chapter 11 bankruptcy proceeding. For more information on the bankruptcy liquidations, see Chapter 7 Liquidation and Chapter 11 Liquidating Plans. Companies that want to restructure outside of bankruptcy generally pursue workouts and other out-of-court options. For more information on these options, see Out-of-Court Restructuring and Liquidation Alternatives Resource Kit.