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Chapter 11 companies are businesses that file for bankruptcy protection under Chapter 11 of the United States Bankruptcy Code.
Businesses that are unable to pay their debts and need to reorganize their operations and finances.
To file for Chapter 11 bankruptcy, a business must submit a petition to the bankruptcy court, detailing its assets, liabilities, and proposed reorganization plan.
The purpose of Chapter 11 bankruptcy is to give businesses a chance to restructure their debts and continue operating, while protecting creditors' rights.
Businesses must report detailed financial information, including income statements, balance sheets, cash flow projections, and a reorganization plan.
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