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Questions? Contact the Planning Office! Phone (479) 4441724. Fax (479) 4441786http://www.co.washington.ar.us 2615 Brink Drive, Fayetteville, AR 72701LARGE SCALE DEVELOPMENT SUBMITTAL CHECKLIST The
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Chapter 11 is a form of bankruptcy that allows businesses to restructure their debts and continue operating while they develop a plan to repay creditors.
A business that is struggling with debt and wants to stay in business while restructuring their finances may choose to file for Chapter 11 bankruptcy.
Filing for Chapter 11 bankruptcy involves submitting a petition to the bankruptcy court stating the company's assets, liabilities, and proposed plan for repayment.
The purpose of Chapter 11 bankruptcy is to allow a business to reorganize its debt, negotiate new payment terms with creditors, and continue operations.
Information such as the company's financial statements, list of creditors, assets, liabilities, and proposed repayment plan must be reported on Chapter 11 bankruptcy documents.
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