What is the purpose of a prepackaged bankruptcy? Would a prepackaged bankruptcy be more likely to be

Question:

What is the purpose of a prepackaged bankruptcy? Would a prepackaged bankruptcy be more likely to be used for a or a reorganization?
Liquidation
Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due....