This board resolution authorizing bankruptcy template may be used when a corporation and its affiliates/subsidiaries are filing Chapter 11 bankruptcy cases. This template includes practical guidance, drafting notes, and alternate and optional clauses. A corporation's authority to file a bankruptcy petition is derived from state law. Counsel should review the corporation's bylaws, charter, and state and local laws to determine the procedures for authorizing a bankruptcy filing. Counsel should pay attention to "notice to be given, time of notice, majorities required, proper execution of the resolution or other evidence of authority, such as a unanimous consent of directors and such other formalities as may be significant under local law." Collier Bankruptcy Practice Guide P 5.03. Directors ordinarily have the authority to file a bankruptcy petition without the consent of the shareholders. For a copy of the template voluntary petition for non-individual debtors, see Voluntary Petition ...