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Operating and Reporting Requirements For Chapter 11 Cases - Hawaii Operating and Reporting Requireme

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The document outlines the operating and reporting requirements for Chapter 11 bankruptcy cases as mandated by the U.S. Department of Justice, specifically for Region 15, which includes Hawaii, Guam, and the Northern Mariana Islands. It details necessary procedures such as initial debtor conferences, meetings with creditors, maintenance of financial records, submission of various reports (including insurance coverage and projected operating statements), and compliance with quarterly fee payments to the United States Trustee. The document emphasizes the importance of timely compliance with these requirements to ensure proper administration of Chapter 11 cases.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

What is a Chapter 11 post confirmation report?

The final post-confirmation report should be filed at the time of Chapter 11 final report and motion for final decree. The contents of post-confirmation reports must include disbursements, distributions and transfers of real property pursuant to the plan.

Is debt forgiven in Chapter 11?

Discharge also occurs at the end of a Chapter 11 filers reorganization plan. If a business timely makes all of its payments on time, then any remaining outstanding liability will be discharged.

What to do when a customer files Chapter 11?

When Your Customer Files Chapter 11: 7 Point Checklist Check to see if you have received the Bankruptcy Court Notice to Creditors. Immediately stop shipments in transit and arrange for return to your warehouse. Stop all efforts to collect the past due account.

What does Chapter 11 mean for customers?

Chapter 11 of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A Chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals also can seek relief in Chapter 11.

Do companies usually survive Chapter 11?

Only about 10% of Chapter 11 filings result in success; far more often, they end up in Chapter 7 straight bankruptcy, in which the company closes and its assets are sold to pay back secured creditors. Any business entity of any form is eligible for a Chapter 11, says attorney Aaron.