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2311394shlDoc 119Filed 11/01/23 Entered 11/01/23 13:16:47 Pg 1 of 10Main DocumentUNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW Yorkie re:Chapter 11BENITAGO INC., et al., Case No. 2311394
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Chapter 11 Genesis Global refers to a specific bankruptcy filing under Chapter 11 of the U.S. Bankruptcy Code by Genesis Global Trading, Inc., which allows the company to reorganize its debts and continue operations while protecting itself from creditors.
Any business entity, like Genesis Global Trading, can file for Chapter 11 if it requires reorganization due to financial distress and seeks protection from creditors while attempting to restructure its debts.
To fill out Chapter 11 for Genesis Global, one must complete official bankruptcy forms available from the U.S. Bankruptcy Court, including schedules detailing assets, liabilities, income, expenses, and a proposed reorganization plan.
The purpose of Chapter 11 Genesis Global is to allow the company to reorganize its debts, maintain operations, and formulate a plan to repay creditors while protecting its assets from liquidation.
The information that must be reported includes financial statements, lists of creditors, details of assets and liabilities, a cash flow statement, and a proposed reorganization plan.
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