In the intricate landscape of bankruptcy proceedings, the B26 form, officially known as the Periodic Report Regarding Value, Operations, and Profitability of Entities in Which the Estate of Holds a Substantial or Controlling Interest, serves as a pivotal document within Chapter 11 cases. Mandated by Bankruptcy Rule 2015.3, this comprehensive form requires a detailed disclosure of the financial health and operational dynamics of each entity in which the debtor's estate has a significant stake. By compiling valuation estimates, financial statements, and descriptions of business operations, the form provides a snapshot of the economic realities facing the debtor's controlled entities. Essential for trustees and debtors in possession, the B26 form must be completed with accuracy and integrity, as it is signed under the penalty of perjury by an authorized representative who attests to the veracity of the information. In doing so, the B26 aids in ensuring transparency and facilitating oversight within the bankruptcy process, allowing creditors, the court, and other interested parties to grasp the full scope of the estate's economic interests and operational standings.
| Question | Answer |
|---|---|
| Form Name | Form B26 |
| Form Length | 9 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 2 min 15 sec |
| Other names | B-1, B-4, Cont, PROFITABILITY |
B26 (Official Form 26) (12/08)
United States Bankruptcy Court
__________________ District of _____________
In re |
, |
Case No. ____________________ |
|
|
Debtor |
|
Chapter 11 |
PERIODIC REPORT REGARDING VALUE, OPERATIONS AND PROFITABILITY OF
ENTITIES IN WHICH THE ESTATE OF [NAME OF DEBTOR]
HOLDS A SUBSTANTIAL OR CONTROLLING INTEREST
This is the report as of __________on the value, operations and profitability of those
entities in which the estate holds a substantial or controlling interest, as required by Bankruptcy Rule 2015.3. The estate of [Name of Debtor] holds a substantial or controlling interest in the following entities:
Name of Entity
Interest of the Estate
Tab #
This periodic report (the “Periodic Report”) contains separate reports (“Entity Reports”) on the value, operations, and profitability of each entity listed above.
Each Entity Report shall consist of three exhibits. Exhibit A contains a valuation estimate for the entity as of a date not more than two years prior to the date of this report. It also contains a description of the valuation method used. Exhibit B contains a balance sheet, a statement of income (loss), a statement of cash flows, and a statement of changes in shareholders’ or partners’ equity (deficit) for the period covered by the Entity Report, along with summarized footnotes. Exhibit C contains a description of the entity’s business operations.
THIS REPORT MUST BE SIGNED BY A REPRESENTATIVE OF THE TRUSTEE OR DEBTOR IN
POSSESSION.
The undersigned, having reviewed the above listing of entities in which the estate of [Debtor] holds a substantial or controlling interest, and being familiar with the Debtor’s financial affairs, verifies under the penalty of perjury that the listing is complete, accurate and truthful to the best of his/her knowledge.
B26 (Official Form 26) (12/08) – Cont. |
2 |
Date: ___________ |
|
|
_____________________________________ |
|
Signature of Authorized Individual |
|
_____________________________________ |
|
Name of Authorized Individual |
|
_____________________________________ |
|
Title of Authorized Individual |
[If the Debtor is an individual or in a joint case]
Signature(s) of Debtor(s) (Individual/Joint)
_____________________________________
Signature of Debtor
_____________________________________
Signature of Joint Debtor
B26 (Official Form 26) (12/08) – Cont. |
3 |
Exhibit A
Valuation Estimate for [Name of Entity]
[Provide a statement of the entity’s value and the value of the estate’s interest in the entity, including a description of the basis for the valuation, the date of the valuation and the valuation method used. This valuation must be no more than two years old. Indicate the source of this information.]
B26 (Official Form 26) (12/08) – Cont. |
4 |
Exhibit B
Financial Statements for [Insert Name of Entity]
B26 (Official Form 26) (12/08) – Cont. |
5 |
Exhibit
Balance Sheet for [Name of Entity]
As of [date]
[Provide a balance sheet dated as of the end of the most recent
B26 (Official Form 26) (12/08) – Cont. |
6 |
Exhibit
Statement of Income (Loss) for [Name of Entity]
Period ending [date]
[Provide a statement of income (loss) for the following periods:
(i)For the initial report:
a.the period between the end of the preceding fiscal year and the end of the most recent
b.the prior fiscal year.
(ii)For subsequent reports, since the closing date of the last report.
Indicate the source of this information.]
B26 (Official Form 26) (12/08) – Cont. |
7 |
Exhibit
Statement of Cash Flows for [Name of Entity]
For the period ending [date]
[Provide a statement of changes in cash flows for the following periods:
(i)For the initial report:
a.the period between the end of the preceding fiscal year and the end of the most recent
b.the prior fiscal year.
(ii)For subsequent reports, since the closing date of the last report.
Indicate the source of this information.]
B26 (Official Form 26) (12/08) – Cont. |
8 |
Exhibit
Statement of Changes in Shareholders’/Partners’ Equity (Deficit) for [Name of Entity]
period ending [date]
[Provide a statement of changes in shareholders’/partners equity (deficit) for the following periods:
(i)For the initial report:
a.the period between the end of the preceding fiscal year and the end of the most recent
b.the prior fiscal year.
(ii)For subsequent reports, since the closing date of the last report.
Indicate the source of this information.]
B26 (Official Form 26) (12/08) – Cont. |
9 |
Exhibit C
Description of Operations for [name of entity]
[Describe the nature and extent of the estate’s interest in the entity.
Describe the business conducted and intended to be conducted by the entity, focusing on the entity’s dominant business segment(s). Indicate the source of this information.]