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What is chapter 11 section 1?
Chapter 11 section 1 pertains to the commencement of a case under chapter 11 of the Bankruptcy Code.
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Any individual, partnership, or corporation seeking to restructure their debts through chapter 11 bankruptcy must file section 1.
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The debtor must report their current financial situation, including assets, liabilities, income, expenses, and proposed plan for debt repayment.
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