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Can Chapter 11 Debtor list his real property for sale if we don't
It will be a material change. Do we wait for hearing on confirmation to get
permission to amend plan and disclosure statement or do we go ahead and
amend and file new plan and disclosure statement?
Do you have a sample 363 sale motion?
On Saturday, February 28, 2015, Michael Avanesian michael@avanesianlaw.com
[cdcbaa] wrote:
>
>
> Yes. Do a motion to employ the broker -- the broker can begin work and
> employment should relate back to the day the employment motion was filed.
> Some practitioners play fast and loose with these things and seek
> employment for work done before the initial app was filed and that's been
> shown not to draw objections if done relatively contemporaneously.
>
> Until the Plan is confirmed, it's not binding so you can do whatever you
> normally could do. If you propose the sale though, your disclosure
> statement is no longer providing adequate information and the Plan
> certainly should not be confirmed if a material portion of it is now
> outdated. Watch out for things such as circulating a security w/o court
> approval and deadlines to confirm Plans.
>
> Also note that you're not just going to need to employ the broker but to
> file a motion to sell the property under 363.
>
>
> Sincerely,
>
>
> *Michael Avanesian, Esq. *AVANESIAN LAW FIRM
> 101 N. Brand Blvd., PH 1920
> Glendale, California 91203
> Tel: 818.276.2477 Fax: 818.208.4550
>
> *Confidentiality**: *This electronic transmission and its contents are
> legally privileged and confidential information and intended solely for the
> use of the addressee. If the reader of this message is not the intended
> recipient, you are hereby notified that any dissemination, distribution,
> copying or other use of this message and its contents is strictly
> prohibited. If you have received this transmission in error, please reply
> to us immediately and delete this message from your directory.
>
> *IRS Circular 230 Disclosure:* To ensure compliance with requirements
> imposed by the IRS, please be advised that any U.S. federal tax advice
> contained in this communication (including any attachments) is not intended
> or written to be used or relied upon, and cannot be used or relied upon,
> for the purpose of (i) avoiding penalties under the Internal Revenue Code,
> or (ii) promoting, marketing or recommending to another party any
> transaction or matter addressed herein.
>
>
> On Sat, Feb 28, 2015 at 10:43 PM, Holly Roark hollyroark22@gmail.com
> [cdcbaa] cdcbaa@yahoogroups.com
> > wrote:
>
>>
>>
>> This is the Hail Mary. This case is two years old. We have had two
>> rounds of voting on plans in this case. Possibly could do a cram down if
>> the Debtor's cash was coming, but it's looking grim. Before the
>> confirmation hearing, I'd like to tee up a sale of the debtor's real
>> property. I know I need to file a Motion to employ the broker. Can she go
>> ahead and list the property prior to filing the Motion, and can the Debtor
>> do this even though there's nothing in the latest plan that proposes a
>> sale?
>>
>>
>> Holly Roark
>> Certified Bankruptcy Specialist*
>> *and Sports Lawyer*
>> holly@roarklawoffices.com
>> **primary
>> email address**
>> www.roarklawoffices.com
>> Central District of California - Consumer Bankruptcy Attorney
>> 1875 Century Park East, Suite 600 Los Angeles, CA 90067
>> T (310) 553-2600; F (310) 553-2601
>>
>> *By State Bar of California Board of Legal Specialization
>>
>> **Counsel for Chapter 13 Trustee Kathleen A. McCallister (Idaho) T (208)
>> 922-5100
>>
>>
>
>
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
holly@roarklawoffices.com **primary email address**
www.roarklawoffices.com
Central District of California - Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067
T (310) 553-2600; F (310) 553-2601
*By State Bar of California Board of Legal Specialization
**Counsel for Chapter 13 Trustee Kathleen A. McCallister (Idaho) T (208)
922-5100
It will be a material change. Do we wait for hearing on confirmationto get permission to amend plan and disclosure statement or do we go ahead and amend and file new plan and disclosure statement?Do you have a sample 363 sale motion?On Saturday, February 28, 2015, Michael Avanesian michael@avanesianlaw.com [cdcbaa] <cdcbaa@yahoogroups.com> wrote:
Yes. Do a motion to employ the broker -- the broker can begin work and employment should relate back to the day the employment motion was filed. Some practitioners play fast and loose with these things and seek employment for work done before the initial app was filed and that's been shown not to draw objections if done relatively contemporaneously.Until the Plan is confirmed, it's not binding so you can do whatever you normally could do. If you propose the sale though, your disclosure statement is no longer providing adequate information and the Plan certainly should not be confirmed if a material portion of it is now outdated. Watch out for things such as circulating a security w/o court approval and deadlines to confirm Plans.Also note that you're not just going to need to employ the broker but to file a motion to sell the property under 363.Sincerely,AVANESIAN
LAW FIRM101
N. Brand Blvd., PH 1920Glendale,
California 91203Tel:
818.276.2477 Fax: 818.208.4550Confidentiality:This electronic transmission and its contents are legally privileged and confidential information and intended solely for the use of the addressee. If the reader of this message is not the intended recipient, you are hereby notified that any dissemination, distribution, copying or other use of this message and its contents is strictly prohibited. If you have received this transmission in error, please reply to us immediately and delete this message from your directory.IRS Circular 230 Disclosure:To ensure compliance with requirements imposed by the IRS, please be advised that any U.S. federal tax advice contained in this communication (including any attachments) is not intended or written to be used or relied upon, and cannot be used or relied upon, for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing or recommending to another party any transaction or matter addressed herein.
On Sat, Feb 28, 2015 at 10:43 PM, Holly Roar
The post was migrated from Yahoo.
This is the Hail Mary. This case is two years old. We have had two rounds
of voting on plans in this case. Possibly could do a cram down if the
Debtor's cash was coming, but it's looking grim. Before the confirmation
hearing, I'd like to tee up a sale of the debtor's real property. I know I
need to file a Motion to employ the broker. Can she go ahead and list the
property prior to filing the Motion, and can the Debtor do this even though
there's nothing in the latest plan that proposes a sale?
Holly Roark
Certified Bankruptcy Specialist*
*and Sports Lawyer*
holly@roarklawoffices.com **primary email address**
www.roarklawoffices.com
Central District of California - Consumer Bankruptcy Attorney
1875 Century Park East, Suite 600 Los Angeles, CA 90067
T (310) 553-2600; F (310) 553-2601
*By State Bar of California Board of Legal Specialization
**Counsel for Chapter 13 Trustee Kathleen A. McCallister (Idaho) T (208)
922-5100
This is the Hail Mary. This case is two years old. We have had two rounds of voting on plans in this case. Possibly could
The post was migrated from Yahoo.