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This document is a Voluntary Petition filed under Chapter 11 by Bassett Builders, Inc. in the United States Bankruptcy Court for the Western District of North Carolina. It includes details regarding
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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 bankruptcy petition form used in the United States to initiate a bankruptcy case.
Individuals or entities that are seeking to declare bankruptcy are required to file B1 (Official Form 1)(12/11).
To fill out B1 (Official Form 1)(12/11), the petitioner must provide personal or business information, details about creditors, assets, income, and expenses, and ensure that all required sections are completed accurately.
The purpose of B1 (Official Form 1)(12/11) is to formally initiate a bankruptcy proceeding, allowing the debtor to seek relief from debts under the U.S. Bankruptcy Code.
Information that must be reported on B1 (Official Form 1)(12/11) includes the debtor's name, address, the nature of the bankruptcy case, information about creditors, assets, liabilities, income, expenses, and other relevant financial details.
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Relevant keywords

Bankruptcy Voluntary Petition Chapter 11 Bassett Builders, Inc. United States Bankruptcy Court Debt Settlement North Carolina Bankruptcy Creditor List Financial Affairs Debtor Rights

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