ALL SEX DATING
clear and disable history
- dating sites for responsible christian
- Chat free sex cams no login
- who is dating deanna pappas
- tatuirovki pa godu i dating
- Best webcam sex chat no reg free
- ohio personals for dating single
- rowupdating in gridview in asp net c
- michael seater and ashley leggat dating
- www single dating com
- elderly versus people with disabilities accomodating
- Free live sex no sign up
- Free online one on one sex chats
- dating interracial online personals
Liquidating trustee plan of reorganization
The question is one of discretion, though of a discretion which should be sparingly exercised, .
The Bankruptcy Code does not define “modification,” and courts determine what constitutes a “modification” on a case-by-case basis.
2013) (liquidation trustee was not a plan proponent and, thus, section 1127(b) would prohibit him from making a “modification” to the plan); In re Calpine Corp., No.
24, 2008) (objecting shareholders were not proponents of confirmed plan and were not authorized under section 1127(b) to modify the confirmed plan); In re Burk Dev.
1993), the court extended section 1127(b) to a subsequent chapter 11 filing by the reorganized debtor because it concluded that the second chapter 11 was an attempt to modify the confirmed chapter 11 plan, and thus not filed in good faith, and that changed market conditions did not sufficiently meet the “unforeseen changed circumstances” requirement.
Chapter 11 bankruptcy can yield a full recovery to creditors with fresh, capable management leading the financially-distressed business.
1993), and the reorganized debtor, a mining company, faced difficulties in meeting its obligations under the plan due to new mining regulations that were passed several months before confirmation, In re Bullion Hollow Enters.
Courts have also denied postconfirmation plan modifications where it was determined that the proposed modification was really an attempt to circumvent the confirmed plan.
Courts will be hesitant to disrupt the finality of confirmation, but will, in appropriate circumstances, allow modification when it is not perceived as a runaround the previously confirmed plan.
Conclusion The big take away from this segment of Breaking the Code is that postconfirmation plan modification is going to be scrutinized on a case-by-case basis with a fact-specific eye towards equity.
It seems that our bankruptcy computer is currently fixated on confirmation because our most recent Breaking the Code entry discussed section 1144 and revocation of a confirmation order, and today’s entry discusses section 1127(b) and postconfirmation plan modifications.
Section 1127(b) provides: The proponent of a plan or the reorganized debtor may modify such plan at any time after confirmation of such plan and before substantial consummation of such plan, but may not modify such plan so that such plan as modified fails to meet the requirements of sections 11 of this title.