Rhode Island Agreement and plan of reorganization
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How to fill out Agreement And Plan Of Reorganization?
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FAQ
A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a "reorganization" bankruptcy. Usually, the debtor remains ?in possession,? has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money.
A reorganization is a significant and disruptive overhaul of a troubled business intended to restore it to profitability. It may include shutting down or selling divisions, replacing management, cutting budgets, and laying off workers.
Reaffirmation can't be filed after discharge As a result, it's important to consider reaffirmation long before the discharge date. Take some time to consider your situation and consider hiring a bankruptcy attorney if you haven't already to help you with the decision-making process.
Also known as plan. A comprehensive document prepared by a debtor or another party in interest detailing how the debtor will continue to operate or liquidate, and how it plans to pay the claims of its creditors over a fixed period of time.