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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Related Content

• Voluntary versus Involuntary Bankruptcies
  Read this practice note, which explains the similarities and differences between voluntary and involuntary bankruptcy proceedings.

• Comparison Between Voluntary and Involuntary Bankruptcies
  Use this chart for an easy comparison of voluntary and involuntary bankruptcy proceedings.

• Involuntary Petition Against a Non-Individual (Official Form 205)
  Refer to this official form when commencing an involuntary case against non-individuals.

• First Day Filings
  Review this practice note for an overview of first day filings in a Chapter 11 proceeding.

• Filing for Chapter 11 Bankruptcy Resource Kit
  Use this resource kit, which provides an overview of the required (and common) filings when a debtor files a Chapter 11 bankruptcy proceeding. 

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