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Need Help in Filling Out a Monthly Operating Report for Chapter 11 Form

Need Help in Filling Out a Monthly Operating Report for Chapter 11 Form

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so what is the process for chapter 11 bankruptcy uh well it's a little bit different than uh the simplified process for Chapter 7 bankruptcy but many of the steps are the same the uh initiation of the bankruptcy uh process either voluntarily or involuntarily and then the formation of the bankruptcy estate now uh there's no trustee appointed or elected in this situation generally uh to oversee the bankruptcy State rather the debtor remains in possession of all of the assets of the estate and continues to use those assets um uh for the operations of the business okay now creditors uh uh can if they are concerned about this can challenge the use of assets particularly if the use of assets somehow impairs their interest but uh uh this is the role and function of the uh debt in possession they can use the assets of the estate and they have all of the other powers of the trustee to uh shun off executory uh contracts to um uh recover uh um certain payments to set aside fraudul

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