Definitions of terms

Assets at filing millions. For each corporate group, we attempted to obtain the value of the assets as listed in the schedules filed in the bankruptcy case and the value of the assets as reported on the 10-K filed for the last reporting period before the filing of the bankruptcy case. We used the higher of the two figures. Amounts are stated in millions of 1997 dollars.

Shop. A case was considered a forum shop if the case was (1) filed in a clerk's office other than the clerk's office for the district or division in which the chief executive office of the debtor was located or (2) filed such that court would be held in a city other than the city for the district or division in which the chief executive office was located. The locations of chief executive offices were taken from 10-Ks when possible, but in some cases we relied on newspaper reports.

Voluntary or involuntary. A case is "voluntary" if it was initially filed by the debtor, "involuntary" if it was initially filed by creditors.

Confirmed plan. The bankruptcy court entered an order confirming a plan of reorganization.

Dismissed. The bankruptcy court entered an order dismissing the Chapter 11 case.

Converted to Chapter 7. The bankruptcy court entered an order converting the Chapter 11 case to Chapter 7.

§ 363 sale of substantially all assets. The bankruptcy court entered an order approving sale of all or substantially all assets and the sale was closed.

Unknown. The case has probably been concluded, but we have been unable to determine the final disposition.

Duration. The number of months from the filing of the first petition to the entry of an order confirming the plan of reorganization, dismissing the case, converting the case, or approving a § 363 sale.

Prepackaged. A case is "prepackaged" if the debtor drafted a plan and solicited votes on it before filing the bankruptcy case. These cases were nearly always filed solely to modify the company's liability on an issue of junk bonds.

Nonprepackaged. All cases that do not meet the definition of "prepackaged." If the debtor negotiated the plan with some, but not all creditor groups before filing or negotiated the plan with all groups but did not solicit votes, the case is considered nonpackaged. An example would be a plan to sell the debtor's business, which has been drafted and negotiated with a large secured creditor before filing, but not with trade creditors.

Employees. The number of persons employed by the debtor as of the last 10-K before filing. The usual data source was the 10-K. In cases in which the data was not available from that source, we accepted newspaper reports at or about the time of filing. To calculate this figure, we combine part time and full time employees, and combined figures for various parts of the debtors' business.

Sales. The dollar amount of the debtor's sales or gross revenues as of the last 10-K before filing.

Cases resulting primarily from tort claims. This field is based on the subjective judgment of Lynn M. LoPucki that if the tort claims had not existed, the debtor would not have needed to reorganize. Tort claims include all non-contract obligations, including product liability, fraud, pension, environmental, patent, other tort, and tax claims.