Debtor is modifying 13 plan post-confirmation to add a new claim.
Posted: Fri Nov 12, 2010 5:21 pm
C13 Debtor is in the midst of his 0% plan. This 0% plan is based on
an aggressively low valuation of the debtor's home. A more reasonable
valuation of the home would have resulted in a 100% plan.
Debtor received some emergency services on credit, and now there is a
valid administrative claim that could be filed. If it is filed
debtor's plan will need to be modified to give this claim appropriate
treatment.
Now that the plan will be modified to add a claim, could the court or
a creditor force reexamination of asset values resulting in plan being
rewritten into a 100% plan based on the higher valuation?
What provision of the code determines whether asset valuation can be
reexamined post-confirmation?
Alik Segal
Alik.Segal@gmail.com
310-362-6157
Cal. CD, Los Angeles
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