In re Proud Mary Marina Corp.
Jan
19
2006
Ruling
Purchaser of debtor's property's chapter 11 plan was confirmable while the debtor's plan was not confirmable since it failed good faith and feasibility requirements.
Procedural posture
Debtor, the operator of a mobile home park, and a proposed purchaser each presented a competing chapter 11 plan of reorganization. Debtor also moved for estimation of application for payment of the administrative expense claims of the proposed purchaser. The contestants disputed whether the plans satisfied the "good faith" requirement and the "feasibility" requirements set forth in 11 U.S.C. § 1129(a)(3) and (11).
ABI Membership is required to access the full summary of In re Proud Mary Marina Corp. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Court
: