Chapter 11 Forms For Small Businesses
Chapter 11 Forms for Small Businesses
Chapter 11 Forms for Small Businesses are numerous and include schedules, exhibits, and supporting documents.
The list of forms below links to completed samples of each of the required forms and documents. In addition, the second column links to the U.S. Courts “Official” (blank) Forms which you can download.
However, the Bankruptcy Code allows the district courts to modify and merge these forms. This is for district courts’ convenience as well as to accommodate state and local laws. And many district courts have chosen to do so. Fortunately, the information asked for in the district court versions is essentially the same as the “official” versions and often nothing more than a merging of two or more of the “official” forms.
In all cases, you must use the Chapter 11 Forms for Small Businesses your bankruptcy attorney provides to you, or the forms you are advised to download from your district court’s website.
The completed sample forms provided here are based on a fictional case study: Willow Lighting and Electrical Supply Company. These completed sample forms are examples intended to familiarize you with the information you will need to give to the court and the format you will use to do so.
The Bankruptcy Petition Filing Package – Part A
Links to Completed Sample Forms
Links to Official Blank Forms (Form #)
Your bankruptcy case officially begins once your business files the Chapter 11 forms for small businesses with the bankruptcy court.
The filing must also include payment of the Filing Fee ($1,167) and Court Administrative Fee ($571).
The Bankruptcy Petition Filing Package – Part B
The following forms and documents are part of the Bankruptcy Petition filing. The court recommends filing these documents with the Part A documents. However, the court allows these documents to be filed within 14 days of the Part A documents. However, if you miss the deadline, the court will close your case and you will have to start all over.
Links to Completed Sample Forms
Also, the most recent versions of the following documents should include as part of the filing above:
- Balance Sheet
- Statement of Operations (P&L Statement)
- Cash-flow Statement, and
- Federal Income Tax Return (No sample tax return provided
Chapter 11 Periodic Reports for Small Businesses:
Links to Completed Sample Forms
- This is a monthly report due no later than the 21st day following the calendar month reported on.
- Reporting begins with the first calendar month to file the bankruptcy petition.
- Reporting continues to and including the calendar month in which the Plan of Reorganization is confirmed, or case is denied, dismissed, or converted into a Chapter 7.
Links to Official Blank Forms
- This quarterly report is due at the end of the month following the close of each calendar quarter.
- Reporting begins at the end of the month following the calendar quarter to file the bankruptcy petition.
- Reporting continues to and including the calendar quarter in which the case is closed, denied, dismissed, or converted into a Chapter 7.
- A quarterly fee is due with the filing of each quarterly statement.
- The U.S. Trustee will provide instructions and the reporting form applicable for your court district. It will be similar if not exactly like the linked sample
Chapter 11 Plan of Reorganization Filing Package for Small Businesses:
- For Small Business Case filers: File Forms 425A and 425B before 180 days following the filing of the Bankruptcy Petition.(The court may grant an extension only for compelling reasons.)
- During this 180-day period, only the business debtor may file a Plan of Reorganization. There are consequences if the business debtor’s Plan is not confirmed by the court within this 180-day “exclusivity period”. After 180 days, any other party (creditors or trustee) may file their Plan to reorganize your business. Creditors then get to vote for either your business’s Plan or the competing plan. Clearly, you don’t want this to happen. Therefore, despite the Code’s 180-day deadline, you should impose a 120-deadline on yourself. This will allow time to negotiate with the creditors and complete the court confirmation process within the “exclusive period.”
- For Subchapter V filers: The filing deadline is 90 days following the filing date of the Bankruptcy Petition.
Only the business debtor may file a Plan in a Subchapter V case. However, a Bankruptcy Trustee will be appointed by the court to facilitate the development of a “consensual” Plan of Reorganization. This will require your frequent discussions with the creditors mediated by the trustee. The court expects that by the end of the 90-day period, the Plan is ready for the court’s confirmation. This means the creditors have already accepted the Plan, and all other requirements and conditions for confirmation have been met. If that has not been achieved, the court has options. It may confirm what it deems a fair and equitable Plan over the objection of the creditors (additional conditions apply). Otherwise, the court may deny the petition or allow its conversion to a Chapter 11 Liquidation of your business.
Links to Completed Sample Forms
- All filers must file this form
- Subchapter V filers must also attach Exhibits A and B (these are included in the completed sample)
Links to Official Blank Forms
- The Bankruptcy Code does not require Subchapter V filers to file the Disclosure Statement. However, the court may require a Subchapter V filer to submit the Disclosure Statement. Or the court may require the submission of one or more of the Form 425B Exhibits. This happens if the court require additional information by creditors before voting on the Plan.
- The Code requires Small Business Case filers to file the Disclosure Statement. However, the court often determines that the Disclosure Statement is not needed, or not needed in its entirety. In that case, the court may request submission of the form or only some of its Exhibits.
- It is likely that neither the Subchapter V nor Small Business Case will be required to file the Disclosure Statement. But you should expect to submit one or more of the Exhibits. Several district courts have eliminated the Disclosure Statement. Instead, their version of Form 425A is expanded to include the Disclosure Statement Exhibits they routinely want to see.
