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Case 2030336 Document 647 Filed in TSB on 03/12/20-Page 1 of 115IN THE UNITED STATES BANKRUPTCY COURT FOR THE SOUTHERN DISTRICT OF TEXAS HOUSTON DIVISION In re: McDermott INTERNATIONAL, INC., et al.,1
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Chapter 11 McDermott refers to a specific section of the bankruptcy code that allows businesses to reorganize their debts while continuing operations. It is named after McDermott, a significant case or legal context associated with Chapter 11.
Businesses, including corporations and partnerships, that are facing financial difficulties but wish to restructure their debts rather than liquidate are required to file for Chapter 11 McDermott.
Filling out Chapter 11 McDermott involves completing various bankruptcy forms, including schedules of assets and liabilities, a statement of financial affairs, and a proposed reorganization plan. It is advisable to consult with a bankruptcy attorney for guidance.
The purpose of Chapter 11 McDermott is to provide a legal framework for businesses to reorganize their operations and debts, enabling them to continue functioning while working toward financial recovery.
The information reported on Chapter 11 McDermott includes the company's assets, liabilities, income, expenses, creditors, and a detailed plan for restructuring the business.
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