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Who is Commencing This Chapter 11?

August 09, 2022

If your client calls and wants to commence a bankruptcy proceeding against its borrower because its borrower is in distress, make sure you are up to speed on the requirements of an involuntary bankruptcy  proceeding. Involuntary Chapter 11 proceedings can be used to investigate the alleged debtor's financial affairs, prevent the depletion of the debtor's assets, recover transferred assets, ensure the fair and orderly distribution of the alleged debtor's property among similarly positioned creditors, and effectuate economical administration of the estate.

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