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Case 1734665KLPDoc 1300Filed 12/18/17 Entered 12/18/17 20:59:08 Document Page 1 of 77Edward O. Passover, P.C. Joshua A. Suss berg, P.C. (admitted pro HAC vice) KIRKLAND & ELLIS LLP KIRKLAND & ELLIS
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Chapter 11 is a bankruptcy filing that allows businesses to reorganize their debts and assets while continuing to operate under court supervision. Toys R refers to a company in the toy industry.
A company in financial distress that wants to reorganize its debts and assets while continuing operations can file for Chapter 11 bankruptcy. Toys R or any other toy industry company may file for Chapter 11 if needed.
Filing for Chapter 11 bankruptcy involves submitting a petition to the bankruptcy court, providing a list of assets and liabilities, proposing a reorganization plan, and seeking approval from creditors.
The purpose of Chapter 11 bankruptcy, including for Toys R or other toy companies, is to restructure debts, negotiate with creditors, and ultimately emerge from bankruptcy as a more financially stable entity.
Information such as assets, liabilities, income, expenses, creditors, proposed reorganization plan, and other financial details must be reported in a Chapter 11 filing for Toys R or any other toy company.
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