Checklist of Documents for Business Bankruptcy

To Prepare A Business Bankruptcy Case

Preparation of a business bankruptcy requires a thorough understanding of the company’s finances and related obligations. Please provide the following. Be as detailed as you can. Make complete and truthful disclosures to your attorney.

  1. A complete list of all debts owed by the business, including the name and address of each creditor, the exact amount and current status of each debt (including arrears), a description of any actual or threatened action taken by each creditor, a description and any valuation you have of the collateral, if any, securing each debt, and the names and addresses of any other persons or entities liable with the business on each debt.

  2. Copies of all notes, mortgages, security agreements, finance statements, and other financial agreements of the business currently in effect.

  3. Copies of all leases and executory contracts under which the business is currently obligated.

  4. A detailed statement of the current status of the business’s trade credit, relationships with commercial lenders, and general credit rating.

  5. A list of all court actions, executions, attachments, foreclosures, and other creditor action presently pending against the business in any court or forum, and a statement of the current status of each proceeding.

  6. A list of all bank accounts, deposits with financial institutions, negotiable instruments, documents of title, securities, or other sources of cash or cash equivalent currently owned or possessed by the business, together with a statement as to the amount or value and the secured status of each item listed.

  7. An accurate and up–to–date balance sheet and profit and loss statement for the business, and copies of all such documents issued by or on behalf of the business during the previous two years.

  8. Copies of the business’s federal income tax returns for each of the last three years, and copies of any other documents available that show the income or expenses of the business during the last three years.

  9. Copies of the following: all documents under which the business was organized (e.g., articles of incorporation, bylaws, operating agreements, etc), minutes of all official meetings held by the business owners, and any agreements or other documents in any way dealing with the organizational or capital structure of the business.

  10. A list of all officers, directors, shareholders, partners, members, or other owners or persons in control of the business, and a description of the share of the entity, if any, held by each person listed.

  11. A list of all significant management personnel of the business, a brief job description for each person listed, the compensation (current and deferred) paid to each, and copies of all employment contacts.

  12. A list of all other employees by class and description of the compensation (current and deferred) paid to each class, together with a copy or complete description of the terms of any collective bargaining or similar agreements currently in effect.

  13. The names, addresses, and telephone numbers of all accountants, attorneys, and independent financial advisers employed or used by the business during the past two years.

  14. If the debtor is an individual, copies of any domestic support obligations under which the debtor may be obligated.
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