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An involuntary case may be commenced only under chapter 7 or 11 of this title, and only against a person, except a farmer, family farmer, or a corporation that is not a moneyed, business, or commercial corporation, that may be a debtor under the chapter under which such case is commenced.
A petitioning creditor, as defined by Title 11 of the U.S. Bankruptcy Code, can initiate an involuntary bankruptcy by filing an involuntary petition. The petition sets forth requirements for the creditor to satisfy and can be filed against an individual or business.
Bona fide dispute means a dispute of a specific amount of money actually billed by a Party. The dispute must be clearly explained by the disputing Party and supported by written documentation from the disputing Party, which clearly shows the basis for its dispute of the charges.