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UNITED STATES BANKRUPTCY COURT FOR THE EASTERN DISTRICT OF VIRGINIA CHAPTER 11 CLOSING PROCEDURE Applicable to chapter 11 cases in which substantial consummation has been completed SUMMARY This procedure
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Chapter 11 of the bankruptcy code allows businesses to restructure their debts while continuing to operate.
Businesses that are unable to meet their financial obligations and need to reorganize their debts.
Closeproc chapter 11 forms can be completed with the assistance of a bankruptcy attorney or financial advisor.
The purpose of closeproc chapter 11 is to provide struggling businesses with a chance to reorganize and repay their debts.
Businesses must report their assets, liabilities, income, expenses, and proposed repayment plan.
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