Schedules and Statements

Post Petition Services: Schedules and Statements Overview 

In the post petition phase of the bankruptcy case, debtor companies must prepare and file documents which represent their financial position at the time of filing for chapter 11 protection.  Each debtor company must file:

Creditors and their case professionals will review and analyze the filed schedules and statements for issues which affect their specific claims.  Debtors and their case professionals must respond to case creditor issues regarding the schedules and statements.  Therefore, it is critical that the data contained in the schedules and statements be consistent and comprehensive for re-use and comparison against filed claims.

The schedules and statements have important implications which include, but are not limited to:

  1. Cross-checked against conflicts disclosure for 327 professionals and OCP's 
  2. Disclosure of company operations and potential proprietary information to competitors
  3. Reliance upon by creditors in deciding whether or not to file a claim
  4. Reliance upon in chapter 11 litigation including: adversary actions, contested confirmation hearings and reliefs from stay
  5. Represent a debtor company's position in a dispute with a creditor
  6. Review by the U.S. Trustee
  7. Used for preference action litigation and ordinary course defense
  8. Used for diligence for asset sale or asset abandonment
  9. Used for contract assumption, rejection or dispute issues
  10. Used for setoff rights disputes

Preparation of the schedules and statements requires significant chapter 11 experience, knowledge, project management skills and technology to prepare comprehensive drafts and final documents for court filing and future reference. 

Phase Eleven's schedules and statements preparation team will provide unparalleled value and comprehensive service during the preparation and filing of these case critical documents.

Post Petition Services: Schedules and Statements Services 

Phase Eleven's schedules and statements preparation team utilizes the methods, standards and technology developed from eleven years of experience at two of the countries premier law firm bankruptcy practice groups to provide comprehensive schedules and statements preparation. 

Our methods simultaneously educate and inform, while seeking diligence from company employees and management for specific schedules and statements.  Our aggressive project management methods balance the need for accurate schedules and statements with on-time deliverable draft and filing goals.  

Our Relational Restructuring Database will streamline the process of schedules and statements preparation, allowing case professionals and company officials alike instant online access to iterative draft and finalized schedules and statements during the preparation phase. 

Utilizing Phase Eleven for schedules and statements preparation will provide cost efficiencies to chapter 11 debtor companies both in the instant and for the long term. 

In the instant of schedules and statements preparation, use of the Phase Eleven team and technology will provide cost effective one-time input and data recycling solutions which can save the company money and resources in preparation time. 

For the long term, data input into the Phase Eleven database will be used for ease of reference in claims resolution, class solicitation preparation and disbursement reconciliation.

Request a presentation of our comprehensive chapter 11 case solutions to conquer your chapter 11 challenges.