In re Estate of Larosa
Mar
25
2009
Ruling
Conversion to chapter 7 conditionally granted where creditors who did not consent to chapter 11 plan were the only impaired creditors.
Procedural posture
The surviving debtor, the surviving spouse of deceased debtor, proposed a chapter 11 plan. Creditors, the cousins of the deceased debtor, filed objections to the plan and moved to convert the case to one under chapter 7, pursuant to 11 U.S.C.S. § 1112(b), arguing they were the only class of impaired creditors, and their approval was thus required for the court to approve the cramdown plan under 11 U.S.C.S. § 1129(a)(8).
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Court
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