- 11 U.S.C.
In re Milford Conn. Assocs. LP
Mar
10
2008
Ruling
Reconfirmation of plan, original confirmation of which was vacated, denied due to failure to satisfy feasibility requirement.
Procedural posture
A debtor filed for relief under chapter 11 of the Bankruptcy Code. The debtor submitted a proposed plan of reorganization for confirmation.
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Court
:
- 11 U.S.C.
In re Mayco Plastics Inc.
Jan
04
2008
Ruling
Lender with postpetition financing priority did not hold an administrative expense claim and could not object to confirmation.
Procedural posture
A postpetition lender of a chapter 11 debtor objected to confirmation of the debtor's plan under 11 U.S.C. § 1129(a)(9)(A).
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Court
:
In re Gregory Rockhouse Ranch
Dec
21
2007
Ruling
Artificial impairment of non-insider claim for sole purpose of manufacturing plan acceptance from an impaired creditor not permissible.
Procedural posture
Debtors'bankruptcy proceedings were jointly administered. The matter was before the court on confirmation of debtors'plans of reorganization. A creditor objected to confirmation.
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Court
:
- 11 U.S.C.
In re Calpine Corp.
Dec
19
2007
Ruling
Sixth amended joint plan of reorganization approved.
Procedural posture
Bankruptcy debtors, a corporation and certain of its subsidiaries, proposed a plan of reorganization which involved consolidation of the debtors'estates, continued existence of the debtors, and creation of a new credit facility. The debtors sought confirmation of the plan.
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Court
:
- 11 U.S.C.
In re WBE Co.
Dec
19
2007
Ruling
Debtor could not establish that plan was proposed in good faith due to breach of fiduciary duty by its managers.
Procedural posture
The debtors in possession of jointly administered cases, a business entity and an individual, moved for confirmation of their chapter 11 plans. Objections were filed. The court's opinion focused on matters related to the debtor that was a business entity (debtor).
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Court
:
- 11 U.S.C.
In re Mountain Highlands LLC
Dec
14
2007
Ruling
Plan confirmation denied due to feasibility concerns and debtor's material misstatements regarding postpetition debts.
Procedural posture
A creditor objected to the confirmation of a debtor's modified restated plan of reorganization.
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Court
:
- 11 U.S.C.
In re Dorsey Trailer Co.
Nov
20
2007
Ruling
Plan did not violate absolute priority rule where no payments were to be made to claims junior to unsecured claims.
Procedural posture
A debtor's chapter 11 case came before the court for confirmation of its amended plan of liquidation. A creditor objected, asserting that the plan violated the absolute priority rule of 11 U.S.C. § 1129(b)(2)(B) and that it violated the good faith clause in a settlement agreement between the creditor and a creditor bank.
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Court
:
In re CardSystems Solutions Inc.
Nov
19
2007
Ruling
Confirmation denied due to improper creditor classifications and channeling injunction.
Procedural posture
Debtor, a credit card transaction processor, was a debtor in possession ("DIP"). It filed a motion seeking confirmation for its proposed chapter 11 liquidation plan.
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Court
:
- 11 U.S.C.
In re Chadda
Nov
09
2007
Ruling
Case dismissed due to debtor's failure to propose confirmable non-speculative plan.
Procedural posture
A chapter 11 debtor sought confirmation of an amended reorganization plan. Creditors of the debtor and the United States trustee objected on the grounds that the plan did not meet the feasibility requirement of 11 U.S.C. § 1129(a)(11). One of the creditors also filed a motion to dismiss the debtor's case pursuant to 11 U.S.C. § 1112.
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Court
:
- 11 U.S.C.
In re South Beach Secs. Inc.
Nov
01
2007
Ruling
Corporate shell debtor with insider as sole creditor denied plan confirmation.
Procedural posture
The U.S. Trustee objected to the confirmation of a chapter 11 debtor's plan on the grounds that no impaired, non-insider creditor class had accepted the plan, as 11 U.S.C. § 1129(a)(10) required, and that the principal purpose of the plan was avoidance of taxes in violation of section 1129(d).
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Court
: