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This document is a Voluntary Petition filed in the United States Bankruptcy Court for the Eastern District of Texas, initiated by DET Management, LLC. It serves as a formal request for bankruptcy
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How to fill out B1 (Official Form 1)(12/11)
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People Also Ask about
Will I lose my house if I file Chapter 11?
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.
Can a Chapter 11 be voluntarily dismissed?
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.
What is a voluntary petition for Chapter 11?
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
What is a voluntary petition in Chapter 11?
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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What is B1 (Official Form 1)(12/11)?
B1 (Official Form 1)(12/11) is the official bankruptcy petition form used in the United States for individuals or entities seeking to file for bankruptcy under Chapter 7 or Chapter 13. It collects essential information about the debtor's identity, debts, and financial situation.
Who is required to file B1 (Official Form 1)(12/11)?
Individuals or entities that are insolvent and wish to seek bankruptcy protection under Chapter 7 or Chapter 13 of the U.S. Bankruptcy Code are required to file B1 (Official Form 1)(12/11).
How to fill out B1 (Official Form 1)(12/11)?
To fill out B1 (Official Form 1)(12/11), the debtor must provide accurate personal information, including the name, address, and social security number, as well as details regarding their debts and assets. The form requires careful attention to ensure all required information is complete and truthful.
What is the purpose of B1 (Official Form 1)(12/11)?
The purpose of B1 (Official Form 1)(12/11) is to initiate the bankruptcy process by officially declaring an individual's or entity's intent to file for bankruptcy. It serves as a legal document that informs the court and creditors of the debtor's financial situation.
What information must be reported on B1 (Official Form 1)(12/11)?
B1 (Official Form 1)(12/11) requires the reporting of the debtor's name, address, social security number, bankruptcy chapter under which they are filing, and details about income, expenses, assets, and liabilities. It also includes any prior bankruptcy filings.
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