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Disclosure Statement In Small Business Case Under Chapter 11 B25B - Official Federal Forms
| Disclosure Statement In Small Business Case Under Chapter 11 Form. This is a national form and can be used in General Bankruptcy . |
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B25B (Official Form 25B) (12/08) United States Bankruptcy Court __________________ District of _____________ In re Debtor Small Business Case under Chapter 11 , Case No. ____________________ [NAME OF PLAN PROPONENT]'S DISCLOSURE STATEMENT, DATED [INSERT DATE] Table of Contents [Insert when text is finalized] American LegalNet, Inc. www.FormsWorkflow.com B25B (Official Form 25B) (12/08) Cont. 2 I. INTRODUCTION This is the disclosure statement (the "Disclosure Statement") in the small business chapter 11 case of _____________ (the ADebtor@). This Disclosure Statement contains information about the Debtor and describes the [insert name of plan] (the "Plan") filed by [the Debtor] on [insert date]. A full copy of the Plan is attached to this Disclosure Statement as Exhibit A. Your rights may be affected. You should read the Plan and this Disclosure Statement carefully and discuss them with your attorney. If you do not have an attorney, you may wish to consult one. The proposed distributions under the Plan are discussed at pages __-__ of this Disclosure Statement. [General unsecured creditors are classified in Class __, and will receive a distribution of ___ % of their allowed claims, to be distributed as follows _________.] A. Purpose of This Document This Disclosure Statement describes: ! ! ! ! ! The Debtor and significant events during the bankruptcy case, How the Plan proposes to treat claims or equity interests of the type you hold (i.e., what you will receive on your claim or equity interest if the plan is confirmed), Who can vote on or object to the Plan, What factors the Bankruptcy Court (the "Court") will consider when deciding whether to confirm the Plan, Why [the Proponent] believes the Plan is feasible, and how the treatment of your claim or equity interest under the Plan compares to what you would receive on your claim or equity interest in liquidation, and The effect of confirmation of the Plan. Be sure to read the Plan as well as the Disclosure Statement. This Disclosure Statement describes the Plan, but it is the Plan itself that will, if confirmed, establish your rights. B. Deadlines for Voting and Objecting; Date of Plan Confirmation Hearing The Court has not yet confirmed the Plan described in this Disclosure Statement. This section describes the procedures pursuant to which the Plan will or will not be confirmed. 1. Time and Place of the Hearing to [Finally Approve This Disclosure Statement and] Confirm the Plan The hearing at which the Court will determine whether to [finally approve this Disclosure Statement and] confirm the Plan will take place on [insert date] , at [insert time], in Courtroom ___, at the [Insert Courthouse Name, and Full Court Address, City, State, Zip Code]. 2. Deadline For Voting to Accept or Reject the Plan American LegalNet, Inc. www.FormsWorkflow.com B25B (Official Form 25B) (12/08) Cont. 3 If you are entitled to vote to accept or reject the plan, vote on the enclosed ballot and return the ballot in the enclosed envelope to [insert address]. See section IV.A. below for a discussion of voting eligibility requirements. Your ballot must be received by [insert date] or it will not be counted. 3. Deadline For Objecting to the [Adequacy of Disclosure and] Confirmation of the Plan Objections to [this Disclosure Statement or to] the confirmation of the Plan must be filed with the Court and served upon [insert entities] by [insert date]. 4. Identity of Person to Contact for More Information If you want additional information about the Plan, you should contact [insert name and address of representative of plan proponent]. C. Disclaimer The Court has [conditionally] approved this Disclosure Statement as containing adequate information to enable parties affected by the Plan to make an informed judgment about its terms. The Court has not yet determined whether the Plan meets the legal requirements for confirmation, and the fact that the Court has approved this Disclosure Statement does not constitute an endorsement of the Plan by the Court, or a recommendation that it be accepted. [The Court=s approval of this Disclosure Statement is subject to final approval at the hearing on confirmation of the Plan. Objections to the adequacy of this Disclosure Statement may be filed until ______.] II. BACKGROUND A. Description and History of the Debtor=s Business The Debtor is a [corporation, partnership, etc.]. Since [insert year operations commenced], the Debtor has been in the business of _________. [Describe the Debtor's business]. B. Insiders of the Debtor [Insert a detailed list of the names of Debtor=s insiders as defined in §101(31) of the United States Bankruptcy Code (the "Code") and their relationship to the Debtor. For each insider, list all compensation paid by the Debtor or its affiliates to that person or entity during the two years prior to the commencement of the Debtor's bankruptcy case, as well as compensation paid during the pendency of this chapter 11 case.] C. Management of the Debtor Before and During the Bankruptcy During the two years prior to the date on which the bankruptcy petition was filed, the officers, directors, managers or other persons in control of the Debtor (collectively the "Managers") were [List the Managers of the Debtor prior to the petition date]. American LegalNet, Inc. www.FormsWorkflow.com B25B (Official Form 25B) (12/08) Cont. 4 The Managers of the Debtor during the Debtor's chapter 11 case have been: [List Managers of the Debtor during the Debtor's chapter 11 case.] After the effective date of the order confirming the Plan, the directors, officers, and voting trustees of the Debtor, any affiliate of the Debtor participating in a joint Plan with the Debtor, or successor of the Debtor under the Plan (collectively the "Post Confirmation Managers"), will be: [List Post Confirmation Managers of the Debtor.] The responsibilities and compensation of these Post Confirmation Managers are described in section __ of this Disclosure Statement. D. Events Leading to Chapter 11 Filing [Describe the events that led to the commencement of the Debtor's bankruptcy case.] E. Significant Events During the Bankruptcy Case [Describe significant events during the Debtor's bankruptcy case: · · · Describe any asset sales outside the ordinary course of business, debtor in possession financing, or cash collateral orders. Identify the professionals approved by the court. Describe any adversary proceedings that have been filed or other s
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