In a corporate chapter 11 (small business case) can
Posted: Wed Dec 07, 2016 3:56 pm
I don't see a problem. Only in individual Debtor's cases is the requirement
from Chapter 13 that the debtor pay at least disposable income imported
(actually citing a 1300 series statute). In a corporate case, if you
already transferred all the property that was to be transferred under the
plan and commenced making plan payments (i.e., substantial consummation)
you can just close the case, provided that the plan didn't change the
default provision that the discharge occurs at the time of plan
confirmation. If it changed it, don't forget to add for the discharge,
too, when you ask to close the case. I tend to ask for a corporate case to
be closed as soon as possible after the confirmation order so that my
corporate debtors are free from the shackles of the 11 asap.
On Wed, Dec 7, 2016 at 3:51 PM, Holly Roark hollyroark22@gmail.com [cdcbaa]
wrote:
>
>
> I know people ask this a lot about chapter 13s, and I know the answer in
> chapter 13 is that there's no early payoff without paying 100%.
>
> What happens if you confirm a corporate chapter 11 plan where the
> unsecureds get say 20%? If the debtor has a five year plan, can it be paid
> off early at the 20% if funds come in or must the debtor devote all
> disposable income for the 5 years?
>
>
> Holly Roark
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