A Washington Order Approving Post Confirmation Modification of Plan is an order issued by the court in the state of Washington that permits the modification of a confirmed plan after the plan has been approved by the court. This order is issued when a debtor has requested a change to their previously confirmed plan, and the court has determined that the proposed modifications are in the debtor’s best interest. The order will detail the specific changes that are to be made to the confirmed plan, and will outline the reasons for approving the modification. There are two main types of Washington Order Approving Post Confirmation Modification of Plan: the Order Modifying Plan of Confirmation, and the Order Denying Plan Modification. The Order Modifying Plan of Confirmation is issued when the court has determined that the proposed modifications to the confirmed plan are appropriate and beneficial to the debtor. The Order Denying Plan Modification is issued when the court has determined that the proposed modifications are not appropriate or beneficial and should not be approved.
Washington Order Approving Post Confirmation Modification of Plan
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FAQ
The post-confirmation administration of a reorganization plan in a Chapter 11 bankruptcy case initiates with a court order. In certain cases, the trustee or the creditors' committee initiates certain legal actions in the bankruptcy court to object the claims of the debtor, or for recovery of funds.
Post-Confirmation means the period commencing on the date the Court enters the Confirmation Order and continuing thereafter until the case is closed by the Order of the Court.
In a Chapter 11 case in which the debtor is not an individual, a request for post confirmation modification must be made prior to substantial consummation of the plan. A modification is effective only if the court, after notice and a hearing, confirms the plan as modified.
After a Chapter 11 plan is confirmed by the court, the plan must be implemented and carried out, either by the debtor or by the successor to the debtor under the plan. If the plan calls for the debtor to be reorganized or for a new corporation to be formed, this function must be carried out first.
Chapter 11 Plan Effective Date means the date on which all conditions to consummation of the Chapter 11 Plan have been satisfied (or waived) and the Chapter 11 Plan becomes effective.
To confirm a Chapter 11 plan, a plan proponent must consider many issues, such as: Negotiating and drafting the plan. Preparing and obtaining court approval of a disclosure statement. Solicitation of votes on the plan. Chapter 11 confirmation requirements. Objections to confirmation.