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This document is a voluntary petition for bankruptcy filed by Kambia Real Estate Corp. under Chapter 11 in the Southern District of New York. It includes details about the debtor’s financial situation, including types of debts, assets, creditor information, and the corporate structure. The document outlines the procedures under the bankruptcy code and the debtor\'s commitment to complete the required financial disclosures, responsibilities, and obligations throughout the bankruptcy process.
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What is voluntary petition?
A voluntary petition is a legal document filed by an individual or business to initiate bankruptcy proceedings in which the debtor seeks relief from debts under the bankruptcy code.
Who is required to file voluntary petition?
Individuals and businesses seeking bankruptcy protection and relief from creditors are required to file a voluntary petition. This includes those who cannot pay their debts and want to reorganize or liquidate their assets.
How to fill out voluntary petition?
To fill out a voluntary petition, debtors must complete official bankruptcy forms which include personal and financial information, details about debts and assets, and the type of bankruptcy being sought (Chapter 7, 11, or 13).
What is the purpose of voluntary petition?
The purpose of a voluntary petition is to seek legal protection from creditors, to obtain a fresh start financially, and to either reorganize debts or liquidate assets as part of the bankruptcy process.
What information must be reported on voluntary petition?
The voluntary petition must include the debtor's name, address, social security number, a list of creditors, income and expenses, and a comprehensive list of assets and liabilities.
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