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Case 1:17bk15588NWWDoc 1 Filed 12/07/17 Entered 12/07/17 09:44:04 Main Document Page 1 of 90DescFill in this information to identify your case: United States Bankruptcy Court for the: EASTERN DISTRICT
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01
Gather all the financial documents related to your business, such as income statements, balance sheets, and tax returns.
02
Analyze your current financial situation and determine if filing for Chapter 11 bankruptcy is the best option for your business.
03
Consult with an experienced bankruptcy attorney who specializes in Chapter 11 cases.
04
Prepare and file a petition for Chapter 11 bankruptcy with the appropriate bankruptcy court.
05
Develop a reorganization plan outlining how you will repay your creditors and regain financial stability.
06
Attend a meeting of creditors, also known as the 341 meeting, where you will meet with your creditors and review your proposed reorganization plan.
07
Work with your attorney and financial advisors to negotiate with creditors and gain approval for your reorganization plan.
08
Continue operating your business while under Chapter 11 protection, making necessary changes outlined in your reorganization plan.
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Comply with all court obligations and requirements, such as submitting monthly operating reports and attending court hearings.
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Once your reorganization plan is approved, make regular payments to your creditors according to the plan's terms.
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Work towards successfully completing your Chapter 11 bankruptcy and emerging with a stronger financial foundation for your business.

Who needs in re chapter 11?

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Businesses that are experiencing financial distress and are unable to meet their financial obligations may consider filing for Chapter 11 bankruptcy.
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Chapter 11 is designed for both small and large businesses, allowing them to reorganize their debts and continue operating while developing a plan to repay creditors.
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It can be a viable option for businesses facing a significant downturn, excessive debt, or other financial challenges that make it difficult to remain profitable.
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By filing for Chapter 11, businesses can gain protection from creditors and have the opportunity to restructure their operations and finances to become financially viable again.
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Chapter 11 is a type of bankruptcy that involves the reorganization of a debtor's business affairs, debts, and assets.
Businesses, corporations, and individuals can file for Chapter 11 bankruptcy.
Filing for Chapter 11 bankruptcy involves submitting a petition, schedules, and a reorganization plan to the bankruptcy court.
The purpose of Chapter 11 bankruptcy is to allow a debtor to reorganize their finances and emerge from bankruptcy in a financially stable position.
Debtors must report their assets, liabilities, income, expenses, contracts, leases, and other important financial information.
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