by Matthew Gensburg | Sep 14, 2022 | GCK on Law
Subchapter V of the Bankruptcy Code allows a debtor to confirm a “consensual” Subchapter V plan if the requirements of Section 1129(a), other than subparagraph 15, are met. However, the debtor may seek a “non-consensual” cramdown of a Subchapter V plan under Section...
by Matthew Gensburg | Jul 27, 2022 | GCK on Law
Courts that permit third-party releases often rely on Sections 1129(a)(1), 1123(b)(6) and 105 of the Bankruptcy Code. In re Millennium Lab Holdings II, LLC, 2018 WL 4521941, at *20 (D.Del. Sept. 21, 2018). However, the issue of whether bankruptcy courts have the...
by Matthew Gensburg | Jul 15, 2022 | GCK on Law
Section 1307(b) of the Bankruptcy Code provides that “[o]n request of the debtor at anytime, if the case has not been converted under Sections 706, 1112, or 1208 of this title, the court shall dismiss a case under this chapter. Any waiver of the right to dismiss...
by Matthew Gensburg | Jul 8, 2022 | GCK on Law
Rule 1009(a) of the Federal Rules of Bankruptcy Procedure provides that schedules “may be amended by the debtor as a matter of course at any time before the case is closed.” This facially simple provision, however, has led to a, a split among the courts as to whether...
by Matthew Gensburg | Jun 24, 2022 | GCK on Law
Section 554(a) of the Bankruptcy Code permits the trustee to abandon estate property upon a showing that it is either burdensome or of inconsequential value and benefit to the bankruptcy estate. Abandonment can also occur under Section 554(c) if property of the...
by Matthew Gensburg | Jun 1, 2022 | GCK on Law
The general rule in bankruptcy is that unsecured creditors are not entitled to post-petition interest on their allowed claims.[1] An exception to this rule is found in Section 726(a)(5) of the Bankruptcy Code which provides for the payment of “interest at the legal...
