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This document is a voluntary petition filed under Chapter 11 of the United States Bankruptcy Code by Petroleum Marketing Analysis, Inc., detailing its financial situation, including assets, liabilities,
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People Also Ask about

Chapter 7 – See Bankruptcy Code Section 707 – Because a trustee is appointed, the trustee may file an objection to a request for voluntary dismissal, and a hearing is required. Chapter 11 – See Bankruptcy Code Section 1112 – A debtor's request to dismiss requires a motion and an opportunity for a hearing.
This is typically initiated when creditors have determined that the debtor is unable to meet their financial obligations in repaying the debts to the creditors, and bankruptcy is the best option to recover those debts.
The voluntary petition will include standard information concerning the debtor's name(s), social security number or tax identification number, residence, location of principal assets (if a business), the debtor's plan or intention to file a plan, and a request for relief under the appropriate chapter of the Bankruptcy
A voluntary petition is a bankruptcy filing initiated by the debtor, while an involuntary petition is filed by the debtor's creditors. A voluntary petition is a more common filing and allows the debtor to choose the type of bankruptcy and the applicable chapter.

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B1 (Official Form 1)(12/11) is the official form used to file a petition for bankruptcy under Chapter 7, 11, or 13 in the United States.
Individuals or entities that seek protection under U.S. bankruptcy law are required to file B1 (Official Form 1)(12/11). This includes individuals, partnerships, and corporations.
To fill out B1 (Official Form 1)(12/11), debtors must provide their personal information, details of their debts, assets, income, and expenses. They should follow the instructions provided with the form carefully.
The purpose of B1 (Official Form 1)(12/11) is to formally initiate a bankruptcy proceeding, allowing individuals or businesses to reorganize or eliminate debts under the protection of the bankruptcy court.
The information that must be reported on B1 (Official Form 1)(12/11) includes the debtor's name, address, social security number, details of their debts, assets, income, and information about creditors.
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Bankruptcy Voluntary Petition Chapter 11 Petroleum Marketing Analysis, Inc. Creditors Debtors Unsecured Claims Financial Affairs Southern District of Florida Bankruptcy Court

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