HOW TO FILE CHAPTER 11 PETITION BEFORE BANKRUPTCY COURT ?
A corporation commences a voluntary Chapter 11 case by filing a petition for relief under Chapter 11 with the appropriate United States Bankruptcy Court. The filing of the petition is the formal act that brings the corporation within the jurisdiction of the bankruptcy court and commences the bankruptcy case. For a corporate debtor, the principal document is Official Form 201, Voluntary Petition for Non-Individuals Filing for Bankruptcy. The current Official Form 201 is prescribed by the Judicial Conference and is required to be used for a non-individual debtor, including a corporation.
For an ordinary corporate Chapter 11 case, Official Form 201, the required creditor mailing matrix, and Official Form 204 are among the principal documents required at the commencement of the case, together with any applicable Form 201A and the filing fee. The remaining principal forms—including Form 202, Form 206Sum, Forms 206A/B, 206D, 206E/F, 206G, 206H, Form 207 and Form 2030—may generally be filed with the petition or within the period permitted by the Bankruptcy Rules, ordinarily 14 days after the petition date, subject to applicable court orders and local requirements. The U.S. Courts’ current forms and instructions should be consulted because filing requirements can change.
SUMMARY OF DOCUMENTS & ANNEXURES
Official Form B201
Official Form B201, titled “Voluntary Petition for Non-Individuals Filing for Bankruptcy,” is the principal document by which a corporation voluntarily commences a bankruptcy case under the United States Bankruptcy Code. The form is designed for non-individual debtors, including corporations, and is used to identify the debtor and provide the Bankruptcy Court with the essential information necessary to open the bankruptcy case.
The form begins by identifying the United States Bankruptcy Court in which the case is being filed and provides space for the case number, if already assigned, and the applicable chapter of the Bankruptcy Code. It also permits the debtor to indicate whether the filing is an amended petition.
The first substantive section requires identification of the debtor. The corporation must state its legal name, together with all other names it has used during the preceding eight years, including assumed names, trade names and “doing business as” names. The corporation must also provide its Federal Employer Identification Number (EIN).
The petition further requires the corporation to provide its principal place of business, mailing address if different, and the location of its principal assets if that location differs from its principal place of business. The debtor’s website address is also requested. These details assist the Bankruptcy Court in identifying the debtor and determining the appropriate venue and jurisdictional information for the case.
Form B201 also contains provisions concerning the nature of the bankruptcy filing and the debtor’s eligibility. The corporation must identify the chapter under which it is filing and provide information relevant to the statutory requirements applicable to the particular case. In a Chapter 11 filing, the petition therefore serves as the corporation’s formal request to commence a reorganization proceeding under Chapter 11.
An important feature of Form B201 is that it is the document that opens the bankruptcy case. The official U.S. Courts’ instructions expressly state that the Voluntary Petition for Non-Individuals Filing for Bankruptcy (Form B201) is one of the documents that must be filed on the date the bankruptcy case is commenced.
In practical terms, Form B201 performs three principal functions: (i) it identifies the corporate debtor and its relevant business and address information; (ii) it identifies the Bankruptcy Court and the chapter under which relief is sought; and (iii) it formally commences the corporation’s voluntary bankruptcy case. Consequently, Form B201 is the foundational document in a corporate Chapter 11 filing, although it forms only one part of the broader petition package required under the Bankruptcy Code, Bankruptcy Rules, Official Forms and applicable local court rules.
List of Creditors
Along with the Voluntary Petition, a corporation commencing a Chapter 11 case is generally required to file a List of Creditors, commonly referred to as the creditor matrix or mailing matrix. Unlike many of the bankruptcy documents, the creditor matrix is not a standardized national Official Form. It is a mailing list prepared in the format prescribed by the particular Bankruptcy Court in which the case is filed. Federal Rule of Bankruptcy Procedure 1007(a) requires the debtor to provide a list of creditors, and individual Bankruptcy Courts prescribe the technical requirements governing its preparation and submission.
The principal purpose of the creditor matrix is to enable the Bankruptcy Court and the clerk’s office to provide notice to creditors and other parties entitled to receive notice in the bankruptcy case. It therefore contains the names and mailing addresses of the corporation’s creditors and, depending upon the applicable court’s requirements, other parties entitled to notice. Accuracy is particularly important because the information is used to create the Court’s electronic mailing and noticing records. An incomplete or inaccurate address may result in a creditor failing to receive important notices concerning the Chapter 11 proceedings.
For a corporate Chapter 11 debtor, the list should generally contain the name and mailing address of each creditor whose claim is or may be included in the debtor’s schedules. Bankruptcy Courts commonly require the list to correspond with creditors identified in Schedules D, E/F, G and H, although the precise scope may vary according to the applicable Federal Rules and local rules. The list should therefore be prepared carefully and reconciled with the corporation’s books and records before filing.
The creditor matrix is ordinarily required at the commencement of the bankruptcy case, together with the petition. It is therefore different from the detailed schedules of assets and liabilities, which may generally be filed with the petition or within the period permitted by the Bankruptcy Rules and the Court. Several Bankruptcy Courts expressly require the creditor matrix to accompany the petition and may impose consequences, including possible dismissal or expedited dismissal procedures, where the required list is not filed.
The matrix generally contains the creditor’s name and complete mailing address. Courts may specifically prohibit the inclusion of account numbers or other information that is unnecessary for mailing purposes. For example, several Bankruptcy Courts expressly instruct debtors not to include account numbers in the creditor matrix. The debtor should follow the precise formatting instructions issued by the Bankruptcy Court in which the case is filed.
In practical terms, before filing Chapter 11, the corporation and its counsel should prepare the creditor matrix by reviewing the corporation’s accounts payable records, loan and financing documents, tax liabilities, litigation claims, employee-related obligations, executory contracts and leases, and other records identifying persons or entities that may have claims against the corporation. The resulting list should be checked against the schedules before filing so that creditor names and addresses are complete and consistent.
Official Form B204
Official Form B204, titled “For Chapter 11 Cases: The List of Creditors Who Have the 20 Largest Unsecured Claims Against You Who Are Not Insiders,” is an Official Bankruptcy Form required in Chapter 11 cases involving non-individual debtors, including corporations. Its purpose is to identify the creditors holding the twenty largest qualifying unsecured claims against the corporate debtor.
The form is prepared by the debtor corporation and is generally filed at the commencement of the Chapter 11 case. It is distinct from the general creditor mailing matrix, which contains the names and addresses of creditors for purposes of providing notice. B204 is a more limited document: it identifies only the creditors with the twenty largest unsecured claims that are not held by insiders. Courts identify B204 as one of the documents required in a Chapter 11 filing.
For each qualifying creditor, the form requires information sufficient to identify the creditor and its claim. The corporation must provide the name of the creditor, its mailing address, the amount of the claim, and information concerning the nature of the claim. The form also requires the debtor to indicate whether the claim is subject to certain circumstances that may affect its treatment, such as whether the claim is contingent, unliquidated or disputed. This information enables the Bankruptcy Court and interested parties to obtain an early understanding of the debtor’s principal unsecured creditor constituencies.
A fundamental feature of B204 is that it excludes insiders. Thus, an unsecured claim held by an insider of the corporation is not included merely because it is one of the corporation’s largest unsecured claims. The purpose is to provide a picture of the debtor’s significant external unsecured creditors, rather than allowing claims of persons closely connected with the debtor to occupy positions on the list.
The form is particularly significant at the beginning of a Chapter 11 proceeding because the twenty largest unsecured creditors constitute an important creditor constituency in the early stages of the case. Their identities and claims can assist the Bankruptcy Court, the United States Trustee and other interested parties in understanding the debtor’s financial condition and the nature of the creditor body. The information may also be relevant to the administration of the case and the formation of creditor committees where applicable.
B204 should not, however, be treated as a complete statement of the corporation’s unsecured liabilities. It contains only the twenty largest qualifying unsecured claims. The corporation must separately disclose its other creditors through the creditor list or matrix and, where required, through the applicable bankruptcy schedules, including Schedule E/F (Official Form B206E/F), which covers creditors holding unsecured claims.
The preparation of B204 therefore requires the corporation to review its books and records and identify its largest unsecured claims as of the commencement of the bankruptcy case. This may involve reviewing trade creditors, lenders whose claims are unsecured or undersecured to the extent of any unsecured deficiency, landlords, service providers, tax authorities, litigation claimants and other persons or entities asserting unsecured claims. The corporation must also determine whether any potentially qualifying creditor is an insider and whether the amount or status of a claim is disputed, contingent or unliquidated.
Official Form B201A
Official Form B201A, titled “Attachment to Voluntary Petition for Non-Individuals Filing for Bankruptcy Under Chapter 11,” is a supplemental form that may be required to accompany Official Form B201, the Voluntary Petition for Non-Individuals Filing for Bankruptcy. It applies only in specified Chapter 11 cases involving non-individual debtors and is therefore not a document that every corporation filing for Chapter 11 is required to submit.
The principal purpose of Form B201A is to provide the Bankruptcy Court with information concerning a Chapter 11 debtor that is subject to certain periodic reporting requirements under the federal securities laws. In particular, the form is applicable to a non-individual Chapter 11 debtor that is required to file periodic reports under §§ 13 or 15(d) of the Securities Exchange Act of 1934. Thus, the form is principally relevant to corporations that are subject to specified Securities and Exchange Commission reporting obligations.
Form B201A should therefore be viewed as an additional disclosure attached to the voluntary petition, rather than as a separate petition commencing the bankruptcy case. The bankruptcy case is commenced by filing Form B201; B201A supplements that petition where the statutory and form requirements make it applicable. The United States Bankruptcy Courts list B201A separately among the Official Bankruptcy Forms for Chapter 11 non-individual debtors.
B201A is particularly significant because it reflects the intersection between bankruptcy law and federal securities regulation. A corporation subject to public-company reporting requirements has continuing disclosure obligations under the federal securities laws, and the bankruptcy system therefore requires additional information in appropriate cases at the commencement of a Chapter 11 proceeding.
Bankruptcy Filing Fee
A corporation commencing a Chapter 11 bankruptcy case is required to pay a filing fee to the United States Bankruptcy Court. The fee is prescribed under 28 U.S.C. § 1930 and the Bankruptcy Court Miscellaneous Fee Schedule. The current fee for a non-railroad Chapter 11 case is $1,738, consisting of a $1,167 case filing fee and a $571 administrative fee. The same $1,738 amount generally applies to both voluntary and involuntary non-railroad Chapter 11 cases.
For a corporation filing Chapter 11, the filing fee is payable to the Clerk of the United States Bankruptcy Court in which the case is commenced. The fee is ordinarily paid at the time the petition is filed. The United States Courts explain that the $1,167 filing fee and $571 administrative fee together constitute the Chapter 11 case filing charges.
The filing fee should not be confused with the corporation’s professional fees and other expenses of the bankruptcy case. The statutory filing fee is paid to the Bankruptcy Court and is separate from fees payable to bankruptcy counsel, financial advisers, investment bankers, accountants, claims agents, consultants and other professionals engaged by the debtor. Such professional expenses may become administrative expenses of the bankruptcy estate, subject to the applicable provisions of the Bankruptcy Code and, where required, court approval.
The filing fee is an important component of the petition-stage requirements because the corporation must make appropriate arrangements for payment when commencing the case. Failure to pay required fees may have serious consequences, including possible dismissal of the bankruptcy case. The United States Courts expressly caution that failure to pay required Chapter 11 fees may result in dismissal.
It is also important to distinguish the case filing fee from fees that may subsequently arise during the Chapter 11 proceeding. For example, separate fees may apply to certain adversary proceedings, appeals, motions to reopen a case, conversion of a case from one chapter to another, or other specified court services. These fees are not part of the initial Chapter 11 petition fee and become payable only when the relevant filing or proceeding occurs.
Official Form B202
Official Form B202, titled “Declaration Under Penalty of Perjury for Non-Individual Debtors,” is a declaration that must be signed by an authorized individual acting on behalf of a non-individual debtor, such as a corporation, in connection with specified bankruptcy documents. In a corporate Chapter 11 case, its principal purpose is to provide a formal certification that the authorized representative has examined the information contained in the relevant documents and has a reasonable belief that the information is true and correct.
Form B202 is therefore different in character from Form B201. Form B201 commences the bankruptcy case, whereas B202 provides the declaration supporting the accuracy of specified documents filed in the case. The form may be used in connection with the corporation’s schedules of assets and liabilities, other documents that require a declaration but do not themselves contain one, and amendments to such documents.
The person signing B202 must be an individual who is authorized to act on behalf of the corporate debtor. The form contemplates a president, another officer, an authorized agent, or another appropriate representative of the debtor. The person signing must identify his or her position or relationship to the debtor. Thus, the declaration is made by a human representative of the corporation rather than by the corporation itself.
The form requires the authorized representative to identify the documents that have been examined. These may include the corporation’s Schedule A/B, Schedule D, Schedule E/F, Schedule G, Schedule H and Summary of Assets and Liabilities, as well as amended schedules and other documents requiring a declaration. Consequently, B202 operates as a certification accompanying the corporation’s substantive bankruptcy disclosures.
The declaration is made under penalty of perjury. The significance of this certification is therefore substantial. The corporate representative is not merely acknowledging that the documents have been filed; he or she is affirming, after examination, that there is a reasonable belief that the information contained in the identified documents is true and correct. The form also contains a warning concerning the serious consequences of bankruptcy fraud and false statements.
The representative must sign and date the declaration and provide the representative’s printed name and position or relationship to the debtor. This creates a clear record identifying the individual who assumed responsibility for the declaration accompanying the relevant bankruptcy documents.
For a corporation filing Chapter 11, B202 is particularly significant because bankruptcy schedules contain extensive financial information concerning the corporation’s assets, secured and unsecured liabilities, executory contracts, leases and codebtors. The declaration provides an additional layer of accountability concerning the accuracy of those disclosures. It should therefore be completed only after the corporation and its bankruptcy counsel have carefully reviewed the underlying information.
Official Form B206
Official Form B206, “Schedules of Assets and Liabilities,” is the principal set of schedules through which a corporate debtor discloses its property, liabilities, contractual obligations and codebtors in a bankruptcy case. For a corporation filing under Chapter 11, these schedules provide the Bankruptcy Court, creditors and other interested parties with a detailed picture of the corporation’s financial position as of the commencement of the bankruptcy case. The United States Courts classify these schedules as Official Forms for non-individual debtors, including corporations.
Form B206 is not a single-page form. It is a collection of separate schedules, each dealing with a particular category of the corporation’s assets or liabilities. The schedules are accompanied by Official Form B206Sum, which provides a summary of the totals reported in the individual schedules. The current U.S. Courts’ instructions specifically identify the constituent forms as Schedule A/B, Schedule D, Schedule E/F, Schedule G and Schedule H, together with the Summary of Assets and Liabilities.
Schedule A/B – Real and Personal Property (Official Form B206A/B) requires the corporation to disclose its property. It covers both real property and personal property and is intended to provide a comprehensive inventory of the debtor’s assets. Depending upon the nature of the corporation’s business, this may include real estate, cash, bank accounts, accounts receivable, inventory, equipment, vehicles, investments, intellectual property and other forms of property.
Schedule D – Creditors Who Have Claims Secured by Property (Official Form B206D) identifies creditors holding secured claims against the corporation and the property securing those claims. It therefore connects the corporation’s secured obligations with the collateral against which the creditor asserts its security interest.
Schedule E/F – Creditors Who Have Unsecured Claims (Official Form B206E/F) identifies creditors holding unsecured claims against the corporation. It covers both claims entitled to priority under the Bankruptcy Code and other non-priority unsecured claims. This schedule therefore provides a detailed disclosure of the corporation’s unsecured creditor body.
Schedule G – Executory Contracts and Unexpired Leases (Official Form B206G) requires the corporation to identify its executory contracts and unexpired leases. This schedule is particularly important in Chapter 11 because contracts and leases may become significant subjects of assumption, rejection, assignment or renegotiation during the reorganization process.
Schedule H – Codebtors (Official Form B206H) identifies persons or entities that may also be liable with the corporate debtor on debts disclosed in the bankruptcy schedules. This enables creditors and the Bankruptcy Court to understand whether obligations of the corporation are supported by guarantees, co-obligors or other forms of shared liability.
Finally, Official Form B206Sum – Summary of Assets and Liabilities provides a consolidated overview of the information contained in the individual schedules. It is intended to give the Court and interested parties a readily accessible summary of the corporation’s overall assets and liabilities rather than requiring them to derive the totals themselves from the individual schedules.
The information contained in the B206 schedules is also intended to correspond with and complement the corporation’s other bankruptcy filings. For example, creditors disclosed in Schedules D and E/F should be reconciled with the creditor information supplied through the creditor matrix and the twenty-largest-creditors list. The corporation should therefore undertake a careful reconciliation of its books and records before filing these schedules.
Official Form B207
Official Form B207, “Statement of Financial Affairs for Non-Individuals Filing for Bankruptcy,” is an Official Bankruptcy Form used by corporations and other non-individual debtors to provide the Bankruptcy Court and parties in interest with information concerning the debtor’s financial history, business affairs and significant financial transactions. The current version of the form was updated in April 2025 and is an Official Bankruptcy Form approved by the Judicial Conference under Bankruptcy Rule 9009.
B207 serves a different purpose from the schedules of assets and liabilities contained in Official Form B206. The B206 schedules principally provide a detailed statement of the corporation’s assets, secured and unsecured liabilities, executory contracts, leases and codebtors. B207, by contrast, asks questions concerning the corporation’s financial activities and events occurring before the bankruptcy filing. It therefore enables the Court and creditors to obtain a broader understanding of how the corporation conducted its financial affairs before entering bankruptcy.
The form requires the corporate debtor to provide information concerning various aspects of its financial history. Among other matters, it addresses income and gross revenue, certain payments to creditors, transfers of property, legal and administrative proceedings, financial statements, books and records, and other significant financial transactions and relationships. The precise information required depends upon the questions and applicable look-back periods contained in the current version of the form.
An important purpose of B207 is to disclose transactions that may be relevant to the administration of the bankruptcy estate. For example, the form seeks information concerning certain transfers of property and payments or other transactions involving creditors and insiders. Such disclosures can assist the Bankruptcy Court and the Chapter 11 estate representative, creditors and other parties in identifying transactions that may warrant further examination under the Bankruptcy Code, including transactions potentially subject to avoidance or recovery proceedings.
B207 also requires information concerning the corporation’s books, records, accountants, bookkeepers and financial statements. The form therefore assists the Court and parties in identifying the persons and professionals who maintained or examined the corporation’s financial records before the bankruptcy filing. This can be particularly important in a Chapter 11 case where the debtor’s financial records must be reviewed in connection with the preparation of schedules, claims administration, valuation and formulation of a plan of reorganization.
The form also addresses matters relating to the corporation’s business operations and financial condition, including specified information about income, losses, payments, transfers and other financial events during the periods prescribed by the form. The corporation must therefore examine its historical accounting records and other business records carefully before completing B207.
B207 is completed on behalf of the corporate debtor and is accompanied by Official Form B202, Declaration Under Penalty of Perjury for Non-Individual Debtors, where required. The declaration is significant because the information supplied in the Statement of Financial Affairs is subject to the requirements applicable to statements made under penalty of perjury. Consequently, the corporation and its authorized representative should ensure that the information is complete, accurate and supported by the corporation’s records.
Under the current instructions for non-individual debtors, B207 is among the documents that are generally filed with the petition or within 14 days after the commencement of the bankruptcy case, unless the Bankruptcy Court grants additional time or applicable local requirements provide otherwise. The United States Courts’ current bankruptcy forms expressly identify B207 as the Statement of Financial Affairs for Non-Individuals.
The preparation of B207 can be a substantial exercise for a corporate debtor because many of the questions require information extending back over specified periods before the bankruptcy filing. Counsel and management should therefore review the corporation’s accounting records, bank statements, general ledgers, tax returns, financial statements, transaction records, litigation files, records of transfers of property and information concerning insiders and related parties.
Official Form B2030
Official Form B2030, “Disclosure of Compensation of Attorney for Debtor,” is the form used to disclose the compensation that a debtor’s attorney has received or has agreed to receive in connection with the bankruptcy case. In a corporate Chapter 11 case, the form provides transparency concerning the fees and expenses agreed between the corporate debtor and its bankruptcy counsel. The form is based on the requirements of 11 U.S.C. § 329(a) and Federal Rule of Bankruptcy Procedure 2016(b).
The fundamental purpose of B2030 is to ensure that the Bankruptcy Court and parties in interest are informed about the financial arrangement between the corporate debtor and its attorney. The disclosure covers compensation received or agreed to be paid during the one-year period before the filing of the bankruptcy petition, as well as compensation agreed to be paid for services rendered or to be rendered in contemplation of, or in connection with, the bankruptcy case.
The attorney is required to disclose the amount agreed upon for legal services and reimbursement of expenses or costs. The form also requires disclosure of the amount already received before the filing of the statement and the resulting balance, if any. Thus, the form enables the Court to see not merely the total fee arrangement but also the amount that has already been paid and the amount that remains payable.
B2030 is particularly important in Chapter 11 because bankruptcy counsel may have been engaged by the corporation before the commencement of the case and may have received a retainer or other payment before the petition was filed. The disclosure requirement enables the Court to examine the relationship between the debtor and its counsel and to determine whether the compensation arrangement requires further scrutiny under the Bankruptcy Code.
The form also requires disclosure of certain sources of compensation and relevant relationships or arrangements concerning payment of the attorney’s fees. This is important where compensation may be provided by a person other than the debtor or where another party has an interest in the payment arrangement. The objective is to ensure transparency regarding who is paying the attorney and the circumstances under which the attorney is being compensated.
B2030 should be distinguished from an application for compensation filed later in a Chapter 11 case. The disclosure made through B2030 concerns the compensation arrangement and payments made in connection with the debtor’s bankruptcy representation. Applications for compensation for professional services rendered during the administration of the Chapter 11 estate are governed by separate provisions of the Bankruptcy Code and Bankruptcy Rules and may require subsequent Court approval.
The form is also different from the corporation’s petition, schedules and Statement of Financial Affairs. Those documents provide information about the debtor’s bankruptcy case and financial affairs, whereas B2030 focuses specifically on the compensation and financial arrangements of the debtor’s attorney.
In a corporate Chapter 11 case, the attorney preparing B2030 should therefore identify the compensation agreed upon, amounts received before the filing, amounts remaining due, and any other compensation arrangements or sources required to be disclosed. The information should be reconciled with the corporation’s payment records and the engagement or retainer agreement.
B2030 is generally included among the documents associated with the commencement of a bankruptcy case, although its filing requirements may be affected by applicable local rules and court procedures. Current Bankruptcy Court Chapter 11 petition materials list B2030 among the forms that may be required in a non-individual Chapter 11 case.
The significance of the disclosure is reinforced by 11 U.S.C. § 329, which permits the Bankruptcy Court to review compensation paid or agreed to be paid to an attorney representing the debtor and, where appropriate, to order the return of compensation that exceeds the reasonable value of the services provided. Thus, B2030 is not merely an administrative fee statement; it forms part of the statutory transparency and oversight mechanism governing compensation of bankruptcy counsel.
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Mukesh Suman is a lawyer based at Delhi. He also provides bankruptcy paralegal services to clients based in USA. He can be contacted at mukesh_suman@outlook.com or +91 9717864570.
