In re Jerath Hospitality LLC

Ruling: 
Bankruptcy Code language requiring "regular payments" under plan did not preclude balloon payments.
Procedural posture: 
Chapter 11 debtor submitted its proposed plan for confirmation. The proposed plan would pay the obligation owing to the state department of revenue's claim amortized over forty-eight monthly installments with a lump sum payment due prior to the sixtieth month following the petition date. The department of revenue filed an objection to the plan.
Issue: 
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Commercial case opionion summary, case decided on December 18,2012, LexisNexis #0113-030