In re Proud Mary Marina Corp.

Pre 2005-Act: 
Pre 2005-Act
Ruling: 
Purchaser of debtor's property's chapter 11 plan was confirmable while the debtor's plan was not confirmable since it failed good faith and feasibility requirements.
Procedural posture: 
Debtor, the operator of a mobile home park, and a proposed purchaser each presented a competing chapter 11 plan of reorganization. Debtor also moved for estimation of application for payment of the administrative expense claims of the proposed purchaser. The contestants disputed whether the plans satisfied the "good faith" requirement and the "feasibility" requirements set forth in 11 U.S.C. § 1129(a)(3) and (11).
Issue: 
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