What is a Chapter 11 plan of reorganization?

Chapter 11 is a form of bankruptcy that involves a reorganization of a debtor's business affairs, debts, and assets, and for that reason is known as "reorganization" bankruptcy. It is most often used by large entities, such as businesses, though it is available to individuals as well.

What are the key steps in the process of a Chapter 11 reorganization?

Steps in the Chapter 11 Bankruptcy Process Bankruptcy Filing.Disclosure Statement.Notice to Creditors.Filing Proofs of Claim.Unsecured Creditors' Committee.Plan of Reorganization.Court Approval of Disclosure Statement.Vote on Reorganization Plan.

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Plan of Reorganization

King Washington Plan of Reorganization

Name: King Washington Plan of Reorganization
Brand: US Legal Forms
Rating: 4.62 (436 reviews)

Category:

Corporations - Public - Restructuring

State:

Multi-State

County:

King

Control #:

US-CC-7-267

Format:

Instant download

Description

This sample form, a detailed Plan of Reorganization document, is a model for use in corporate matters. The language is easily adapted to fit your specific circumstances. Available in several standard formats.

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A key part of any Chapter 11 case is the debtor's plan of reorganization. The plan of reorganization outlines how the debtor will pay back creditors over time. In order to move forward with the plan of reorganization, the creditors must accept it and the court must confirm it.

If the petition was dismissed due to the debtor's failure to appear in court or respond to court requests, a subsequent bankruptcy petition may be rejected. A Chapter 11 petition may also be denied if, in the 180 days before filing, the filing entity fails to get credit counseling from an approved organization.

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.

All voting on the acceptance or rejection of a plan is by class. The creditors in each class of impaired claims vote on whether the plan will be accepted by that class of claims.

Chapter 11 is a form of bankruptcy that involves a reorganization of a debtor's business affairs, debts, and assets, and for that reason is known as "reorganization" bankruptcy. It is most often used by large entities, such as businesses, though it is available to individuals as well.

The solicitation of creditor votes on a plan is a crucial part of the chapter 11 process. At a minimum, a chapter 11 plan can be confirmed only if at least one class of impaired creditors (or interest holders) votes to accept the plan.

Debt Relief Through a Payment Plan The goal of Chapter 11 is to create a financial plan that the filer, creditors, and the court agree will enable the company to remain open and prosper. The plan can include modifying interest, payment due dates, and other termsit can even discharge (erase) debt entirely.

Steps in the Chapter 11 Bankruptcy Process Bankruptcy Filing.Disclosure Statement.Notice to Creditors.Filing Proofs of Claim.Unsecured Creditors' Committee.Plan of Reorganization.Court Approval of Disclosure Statement.Vote on Reorganization Plan.

Section 1123(a)(1) provides that a chapter 11 plan must designate classes of claims and interests for treatment under the reorganization. Generally, a plan will classify claim holders as secured creditors, unsecured creditors entitled to priority, general unsecured creditors, and equity security holders.

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As explained in the answer to question 16 above, an individual debtor does not receive a discharge until the completion of payments under the plan. Court on or about January 16, 2015 (Docket No.More than 95,000 sexual abuse claims have been filed in the bankruptcy case. -- ``(1) In general. In a Chapter 13 case, the debtor proposes a plan of reorganization. Emergencies: They criticize fire chief's plan to team up one paramedic with a lesser trained technician. The Bankruptcy Code sets out conditions that must be met before a reorganization plan may treat a claim as unimpaired.

King Washington Plan of Reorganization

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Who must accept and confirm the reorganization plan?

Can Chapter 11 be denied?

What happens after a Chapter 11 plan is confirmed?

Which creditors may vote to accept or reject a Chapter 11 reorganization plan?

What is a Chapter 11 plan of reorganization?

Who votes on a chapter 11 plan?

What does filing for Chapter 11 allow a company to do?

What are the key steps in the process of a Chapter 11 reorganization?

Who votes for a Chapter 11 plan?

How does Chapter 11 affect creditors?

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What is the King Plan of Reorganization657411?

Why does King need a reorganization?

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Will there be any job losses due to the reorganization?

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How will the reorganization affect King's customers?

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