New Jersey Chapter 11 Notice of Proposed Abandonment is a document used by a debtor in possession (DIP) to notify its creditors that it is proposing to abandon certain property and assets. This document is required by the Bankruptcy Code and is typically filed in conjunction with the DIP’s plan of reorganization. The Notice of Proposed Abandonment provides creditors with information regarding the assets that are being proposed for abandonment, including a description of the assets, their approximate value, and the estimated date of abandonment. There are two types of New Jersey Chapter 11 Notice of Proposed Abandonment: a Notice of Abandonment of Property and a Notice of Settlement of Claims. The Notice of Abandonment of Property is used when the DIP wishes to abandon certain property in full satisfaction of a claim. The Notice of Settlement of Claims is used when the DIP wishes to settle certain claims in full satisfaction of a claim.