In re ONeal

Ruling: 
Confirmation denied due to impossibility and lack of specificity or good faith.
Procedural posture: 
The Arkansas Development Finance Authority (ADFA) objected to confirmation of the debtors second amended chapter 11 plan of reorganization on the grounds that the plan did not comply with the requirements of 11 U.S.C.S. §§ 1122 and 1129(a). It also argued that the plan violated the absolute priority rule in 11 U.S.C.S. § 1129(b)(2)(B)(ii).
Issue: 
ABI Membership is required to access the full summary of In re ONeal. Please sign in if you are already an ABI member, or otherwise you may Become an ABI Member
Consumer case opionion summary, case decided on April 12,2013, LexisNexis #0513-030