In re McMahon Family LP
Jul
10
2013
Ruling
Confirmation denied where debtor tree farming operation did not establish ability to make proposed payments.
Procedural posture
A chapter 12 trustee objected to confirmation of a debtor's plan on the grounds that the plan did not meet the "best interest of creditors" test under 11 U.S.C.S. § 1225(a)(4). A bank also objected to confirmation on the grounds that the debtor did not qualify for chapter 12 relief, unsecured creditors would be paid in full in a chapter 7 liquidation, and the debtor's proposed treatment of the bank's secured claim was commercially unreasonable.
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Court
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