{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

23-31 - Chapter Twenty-three Chapter 13 Reorganization...

Info icon This preview shows pages 1–8. Sign up to view the full content.

View Full Document Right Arrow Icon
Chapter Twenty-three. Chapter 13: Reorganization Proceeding After reading this chapter, you will be able to: Describe a reorganization proceeding Understand the rationale of Chapter 13 List the grounds for conversion or dismissal or reorganization proceedings Know the necessary documents and their filing deadlines in Chapter 13 proceedings Understand the elements of a Chapter 13 plan Describe the procedures for confirming and performing a Chapter 13 plan Understand the difference between Chapter 13 and Chapter 7 discharges
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Documents and Deadlines in Chapter 13 Deadline Statute Petition At filing Bankruptcy Rule 1002 Credit Counseling Certificate at filing 11.U.S.C. §109(h) Statement of Financial Affairs, Schedules 15 days Bankruptcy Rule 1007(b) (2), (c) Chapter 13 Plan 15 days Bankruptcy Rule 3015 Attorneys’ Fee Statement Creditors Meeting Bankruptcy Rule 2016 First Plan Payment 30 days 11 U.S.C. §1326 Adequate Protection Payments 30 days 11 U.S.C. §1326(a) Plan Performance: 1. Family Income < SMFI 2. Family Income => SMFI 3 years 5 years 11 U.S.C. §1322(d) 11 U.S.C. §1322(d) File tax returns for last 4 years Creditor meeting 11 U.S.C. §1308
Image of page 2
Causes for Conversion or Dismissal Loss or Diminution—reorganization unlikely Failure to follow operating rules Unreasonable delay prejudicial to creditors Failure to propose a plan within court deadlines Failure to obtain confirmation of any plan Revocation of confirmation Inability to commence plan Material default in plan Occurrence of a condition state in plan Failure to pay court fees Failure to file Chapter 13 statement Failure to pay postpetition domestic support obligations Failure to file tax returns
Image of page 3

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Reorganization A reorganization is a bankruptcy proceeding where a debtor seeks confirmation of a plan that will repay creditors while permitting the debtor to retain assets or continue in business. The proceedings permitted by Chapters 9, 11, 12, and 13 of the Bankruptcy Code are reorganization proceedings.
Image of page 4
Cramdown Cramdown is the act of obtaining confirmation of a reorganization plan over the objection of creditors. Different tests or procedures may be utilized to effectuate a cramdown on either secured or unsecured creditors.
Image of page 5

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Chapter Twenty-four. Chapter 11— Introduction and Administration After reading this chapter, you will be able to: Understand generally Chapter 11, the most complex type of bankruptcy proceeding Describe the basic documents filed in a Chapter 11 proceeding Identify the appropriate filing deadlines Understand the various activities which should or must be taken by a Chapter 11 debtor-in- possession within the first 60 days of filing List thhe operating report requirements of Chapter 11 proceedings
Image of page 6
Chapter 11 Chapter 11 is the most complex, time- consuming, and expensive of all bankruptcy proceedings to prosecute.
Image of page 7

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 8
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern