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Case 1912680KBODoc 97Filed 01/14/20Page 1 of 72IN THE UNITED STATES BANKRUPTCY COURT FOR THE DISTRICT OF DELAWARE In re: CLOVER TECHNOLOGIES GROUP, LLC, et al., 1 Debtors.) ))))))Chapter 11 Case No.
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Chapter 11 of the Bankruptcy Code allows businesses to reorganize their debts and restructure their operations.
Businesses that are struggling financially and need to reorganize their debts may file for chapter 11 bankruptcy.
To file for chapter 11 bankruptcy, a business must submit a petition to the bankruptcy court, along with a schedule of assets and liabilities, a statement of financial affairs, and a reorganization plan.
The purpose of chapter 11 bankruptcy is to provide a business with an opportunity to restructure its debts, continue operating, and emerge financially stable.
Businesses must report their assets, liabilities, income, expenses, and other financial information in their chapter 11 filings.
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