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Documents Distributed to the County Board at the Meeting Committee of the Whole October 12, 2010, Contents: 1. Budget Amendment #1000088 from Regional Planning Commission for Travel Demand Model Expansion
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Chapter XII committees refer to the committees established under Chapter XII of the Bankruptcy Code that deal with the reorganization and management of the affairs of certain types of debtors.
Entities that qualify for Chapter XII, typically small businesses and family farmers seeking reorganization, are required to file Chapter XII committees.
To fill out Chapter XII filings, debtors must complete the appropriate bankruptcy forms, including schedules of assets and liabilities, statement of financial affairs, and a Chapter XII plan, and submit them to the bankruptcy court.
The purpose of Chapter XII committees is to provide a framework for the restructuring of debts to allow debtors to maintain their business operations while paying creditors over time.
Information reported on Chapter XII committees must include detailed financial disclosures, a list of creditors, and a proposed plan for repaying debts.
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