Chapter 11 - selling real property to pay the plan -
Posted: Thu Apr 30, 2015 11:10 am
You aren't selling pursuant to a confirmed plan, so bring a motionfor authorization to sell.Peter M. Lively, J.D., M.B.A.
Law Office of Peter M. Lively * Personal Financial Law Center I
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On Thursday, April 30, 2015 11:05 AM, "Holly Roark hollyroark22@gmail.com [cdcbaa]" wrote:
Hello, I have had a Chapter 11 open for two years with no confirmed plan yet. We had to file a new plan to liquidate some property in lieu of our original plan which was to bring in some cash via business dealings.
Disclosure hearing is next week. Secured lender is on board with the Plan.
We have a court order employing the Broker.
We now have a signed purchase and sale agreement for the property, and of course buyers are informed of the Chapter 11.
Do I: file a motion to sell the property now? It's already in the new Plan that we're selling the property. This plan of course has not been voted on because the disclosure statement has not yet been approved.
I need a little guidance as to how to proceed at this point. Thank you!
Holly RoarkCertified Bankruptcy Specialist*
and Sports Lawyer
holly@roarklawoffices.com**primary email address**www.roarklawoffices.comCentral District of California - Consumer Bankruptcy Attorney1875 Century Park East, Suite 600 Los Angeles, CA 90067T (310) 553-2600; F (310) 553-2601*By State Bar of California Board of LegalSpecialization**Counsel for Chapter 13 Trustee Kathleen A. McCallister (Idaho) T (208) 922-5100 #
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