What is a Chapter 11 discharge?
In a Chapter 11 case filed by an individual (i.e., a natural person), a discharge is granted by the court separately, after the completion of payments under the plan. A discharge is a court order relieving the debtor from liability for certain debts.
What is a discharge under 11 USC 1328?
11 U.S.C. § 1328(h). The discharge releases the debtor from all debts provided for by the plan or disallowed (under section 502), with limited exceptions.
What does 1129 mean in court?
(a) The court shall confirm a plan only if all of the following requirements are met: (1) The plan complies with the applicable provisions of this title. (2) The proponent of the plan complies with the applicable provisions of this title.
What is a 1328 certificate?
Section 1328(a) adopts a provision contained in the Senate amendment permitting the court to approve a waiver of discharge by the debtor. It is anticipated that such a waiver must be in writing executed after the order for relief in a case under chapter 13.
What does impaired mean in Chapter 11?
What Is an Impaired Creditor? In your Chapter 11 plan of reorganization, you must label each of your creditors as “impaired” or “unimpaired.” A creditor’s claim is impaired if you change the original debt terms in a negative way, such as reducing the interest rate or lengthening the pay-out period.
What happens after a company files Chapter 11?
A case filed under chapter 11 of the United States Bankruptcy Code is frequently referred to as a “reorganization” bankruptcy. Usually, the debtor remains “in possession,” has the powers and duties of a trustee, may continue to operate its business, and may, with court approval, borrow new money.
How long does a Chapter 11 stay on your credit report?
10 Years
How Long Does Bankruptcy Stay On Your Credit Report?
| Bankruptcy Chapter | Bankruptcy Record Removed After* |
|---|---|
| Chapter 7 | 10 Years |
| Chapter 11 | 10 Years |
| Chapter 12 | 7 Years |
| Chapter 13 (Discharged) | 7 Years |
What is the 1129 (b) alternative confirmation standard?
As previously noted, section 1129 (b) sets forth a standard by which a plan may be confirmed notwithstanding the failure of an impaired class to accept the plan. Paragraph (1) makes clear that this alternative confirmation standard, referred to as “cram down,” will be called into play only on the request of the proponent of the plan.
What is paragraph 11 of an essay?
Paragraph 11 is where you summarize the points you made and close out the essay. That leave you 9 paragraphs in between. This may sound touch, but if you have three ideas to support each main point, that’s a paragraph each for a total of nine. The flow of the essay is also going to depend on the type of essay you are doing,…
When can a plan be confirmed under Section 1129?
Together with section 1111 (b) and section 1129 (a) (7) (C), this section provides when a plan may be confirmed, notwithstanding the failure of an impaired class to accept the plan under section 1129 (a) (8). Before discussing section 1129 (b) an understanding of section 1111 (b) is necessary.
Can a court confirm only one plan under section 1127?
Notwithstanding subsections (a) and (b) of this section and except as provided in section 1127 (b) of this title, the court may confirm only one plan, unless the order of confirmation in the case has been revoked under section 1144 of this title.
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