05
Nov
2020
Chapter 13 Confirmation Denied
Here, the court denied confirmation of a Chapter 13 bankruptcy repayment plan when the unsecured creditors would have received more under a Chapter 7 bankruptcy.
The court found that the best interest of creditors would not be supported in this Chapter 13 case, since those creditors would receive greater repayment in a Chapter 7 case. Here, the unsecured creditors in a Chapter 7 case would receive about $3,500.00.
The debtor was given additional time to file amended financial statements and an analysis as to the repayment to creditors under a Chapter 7 case. Confirmation denied. In the Matter of Ronald Foulk, 134 B.R. 929.
Author: Charles R. Harroun, Attorney at Law
This entry was posted
on Thursday, November 5th, 2020 at 8:42 am and is filed under Bankruptcy.
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