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July 11, 2017WINSTONSALEM/FORSYTH COUNTY BOARD OF EDUCATION AGENDA July 11, 2017 4:30 p.m. Closed Session 4:45 p.m. Special Called Meeting Superintendents Conference Room Order of BusinessPageI. Call
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Chapter 11 5c of refers to a specific section of the U.S. bankruptcy code that deals with the reorganization of debts for businesses.
Typically, entities such as corporations and partnerships that need to restructure their debts are required to file chapter 11 5c.
To fill out chapter 11 5c, one must complete the necessary forms provided by the bankruptcy court, detailing financial information, a plan for reorganization, and related documentation.
The purpose of chapter 11 5c is to provide a legal framework for businesses to reorganize their debts and continue operations while repaying creditors over time.
The information that must be reported includes a list of all creditors, assets, liabilities, income, and a proposed plan for repaying debts.
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