In re Smitty Inv. Group LLC
May
16
2008
Ruling
Confirmation denied for lack of feasibility due to debtor's lack of a reliable source of income.
Procedural posture
A corporate debtor filed a petition under chapter 11 of the Bankruptcy Code and a plan for repaying its creditors. An unsecured creditor filed an objection to confirmation of the plan, arguing that the plan should not be confirmed under 11 U.S.C.S. § 1129(a)(3) because it was not filed in good faith, and that it could not be confirmed under 11 U.S.C.S. § 1129(a)(11) because it was not feasible.
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Court
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