Voluntary Petition (Official Form 201)

Summary

Voluntary Petition (Official Form 201) must be completed by a prospective non-individual debtor in order to initiate a bankruptcy case under Chapter 11 of the Bankruptcy Code. See Voluntary Petition (Official Form 201). The completed petition should be filed with the bankruptcy court in the appropriate jurisdiction. The petition provides the court with basic information about the debtor and its bankruptcy case. Upon completing and filing Official Form 201, the debtor automatically assumes the identity of a “debtor-in-possession,” which signifies that the debtor retains possession and control of its assets while reorganizing. The debtor will continue to be identified as a debtor-in-possession until the case is dismissed or converted to a Chapter 7 case, or until a Chapter 11 trustee is appointed to run the debtor’s business.