Issue link: https://mbozikis.ufcontent.com/i/1422521
18 bankruptcy filing. Thus, for example, private companies that file for bankruptcy will be subject to a much higher level of disclosure in bankruptcy than outside bankruptcy. As a general matter, all papers filed in a bankruptcy case as well as the case docket itself are publicly available for review. 11 U.S.C. § 107(a). Furthermore, both the Bankruptcy Code and Bankruptcy Rules mandate that certain disclosures be made by various parties in interest. For example, every debtor is required to file very detailed schedules of assets and liabilities and statements of financial affairs as well as various reports detailing certain financial information. See F ED. R. BANKR. P. 1007(b), 2015; 11 U.S.C. § 704(a)(8). Moreover, as part of the plan confirmation process, a debtor is also required to file a disclosure statement containing "adequate information," discussed below at Chapter VI.E. Finally, as part of standard motion practice, the movant will need to provide sufficient factual justification for the relief requested, which can include information that it would not normally disclose publicly. Particularly surprising can be the fact that such disclosures may often require the inclusion of information that would be considered confidential outside of the bankruptcy context, such as the commercial terms of a transaction between the debtor and a third party. Although the Bankruptcy Code and Bankruptcy Rules provide that some sensitive information can be filed "under seal" such that only certain parties can view it, only certain types of information are covered. See 11 U.S.C. § 107(b); F ED. R. BANKR. P. 9018 (covering trade secrets, confidential research, development and commercial information and scandalous and defamatory matters). Furthermore, courts will often narrowly construe these provisions. See Gitto v. Worcester Telegram & Gazette Corp. (In re Gitto Glob. Corp.), 422 F.3d 1, 8 (1st Cir. 2005). Finally, the burden of proof is on the party requesting that the information be protected from public view. See Video Software Dealers Ass'n v. Orion Pictures Corp. (In re Orion Pictures Corp.), 21 F.3d 24, 27 (2d Cir. 1994). Thus, the baseline position is that information is to be disclosed.