Starting today, you may notice a new look for some of the forms used in bankruptcy cases. Some of the key forms now make a distinction between non-individual bankruptcy cases and business bankruptcy cases. For your convenience, we are attaching some of the key forms used in business bankruptcy cases.
The following are among the changes to the less compact form of petition for business bankruptcies:
- The form now makes clear that assumed names and doing business as names used within the last eight years must be included (and, of course, deletes the requirement for maiden and married names).
- The form also (finally) recognizes that just about every company now has a website and asks for the debtor’s URL.
- The question of whether the debtor owns or has possession of any “property that poses or is alleged to pose a threat of imminent and identifiable harm to public health or safety” now asks for the identification of the hazard and also asks about whether the debtors owns or possesses property that “needs to be physically secured or protected from the weather” or includes perishable goods or assets (ranging from livestock to stock).
- Estimated assets and liabilities used to top out at “More than $1 billion.” Now, the top category is “More than $50 billion.” Guess the bankruptcy statisticians cared about the $49 billion difference.
Click here to view table.
The amendments also include a new Bankruptcy Official Form 2030, to be filed within 14 days after the date of the order for relief, regarding disclosure of compensation of the debtor’s attorney, as required by section 329(a) of the Bankruptcy Code and Bankruptcy Rule 2016(b).
Notably, no substantive changes to the Bankruptcy Rules were made this year.