Archive for the ‘Feasibility’ Category

The immediate goal of a Chapter 11 bankruptcy case is to confirm a plan of reorganization. The plan lays out the debtor’s new (and more manageable) obligations. A bankruptcy judge is required to make a number of findings before confirming a Chapter 11 plan. If the creditors all agree to the plan, the debtor has much less to prove to secure confirmation. Even with unanimous consent, however, a judge has the power to ensure that the plan meets the requirements of the Bankruptcy Code. A recent ruling out of Nevada serves as a reminder that a bankruptcy judge can deny…