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§ 1129(a)(7)

In re Eugene Pipe LLC

May
07
2012
Ruling
Plan confirmed over objection of creditor that submitted competing offer to purchase debtor's business.
Procedural posture

The court held a confirmation hearing in this chapter 11 case, at which testimony was heard and evidence submitted. An objection to debtor's Second Amended Plan of Reorganization (the Plan) was filed by a creditor that submitted a rival offer to purchase the debtor's business.

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Commercial opinion summary, case decided on May 07, 2012 , LexisNexis #0512-137
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In re Colonial Bancgroup Inc.

May
20
2011
Ruling
Plan did not meet best interests of creditors test due to plan committee's ability to incur expenses of high risk litigation.
Procedural posture

Debtor filed a proposed second amended chapter 11 plan of reorganization. An evidentiary hearing on confirmation of the plan was held. Objections to the plan were filed by the Federal Deposit Insurance Corporation (FDIC), as receiver, a banking and trust company(B&TC), the lead plaintiffs in a consolidated securities class action against debtor, and multiple individual shareholders.

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Commercial opinion summary, case decided on May 20, 2011 , LexisNexis #0611-132
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In re ISC Bldg. Materials Inc.

Feb
10
2011
Ruling
Chapter 11 plan confirmed as meeting best interests of creditors test.
Procedural posture

Before the court was confirmation of chapter 11 debtor's second amended plan of reorganization.

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Commercial opinion summary, case decided on February 10, 2011 , LexisNexis #0711-024
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In re SL Liquidating

May
14
2010
Ruling
Confirmation of liquidation plan denied due to non-consensual third party releases.
Procedural posture

In a chapter 11 liquidation bankruptcy case, the United States Trustee, high level management retirees of the debtors, and a lessor of the debtor, filed objections to confirmation of the plan of liquidation. They contended that the plan's non-consensual third party releases of certain non- debtor entities, including officers and directors of the debtor, violated applicable law.

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Commercial opinion summary, case decided on May 14, 2010 , LexisNexis #0910-024
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In re Hand

May
05
2009
Ruling
Confirmation denied in chapter 13 case which was then dismissed in best interests of creditors.
Procedural posture

Debtors filed a petition under chapter 11 and a plan for repaying their creditors. Secured creditors filed objections to confirmation of the debtors' plan, arguing, inter alia, that the plan failed to satisfy the "best interest of creditors" test under 11 U.S.C.S. § 1129(a)(7)(A)(ii), was not fair and equitable under 11 U.S.C.S. § 1129(b). The case was tried to the court.

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Consumer opinion summary, case decided on May 05, 2009 , LexisNexis #0709-059
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