Chapter 11 Voluntary Petition (Business Reorganization)

File Official Form 101 with all required schedules and the Statement of Financial Affairs. The debtor typically remains in control as 'debtor in possession.' File monthly operating reports. Propose a plan of reorganization classifying claims and specifying how each class will be treated. Creditors vote on the plan. The court confirms the plan if it meets the Bankruptcy Code requirements. Small businesses (Sub-Chapter V) have a streamlined process with no creditors' committee and a shorter timeline.