Chapter 11 Small Business Subchapter V: NON-Consensual Plan
11 U.S.C. Related Topics: Ch. 11 SmBus Sub V Petition Filing, Ch. 11 SmBus Sub V: Procedural Orders, Ch. 11 SmBus Sub V Plan (Filing) , Scheduling Ch. 11 SmBus Sub V Plan Confirmation Hearing , Ch. 11 SmBus Sub V: Plan Confirmation |
NON-CONSENSUAL PLAN: Plan Confirmed Over the Objections of Creditors, under 1191(b) (Non-Consensual)
(Non-Consensual) Plan Payment Period: Duration 3 to 5 Years
- During the Payment Period:
- Debtor will make payments to the Trustee
- Trustee is responsible for making creditor payments.
- After the Plan Payment Period:
- Debtor makes payments directly to creditors.
NOTICE OF SUBSTANTIAL CONSUMMATION
Notice of Substantial Consummation will be filed by the debtor at some point during the case.
- Docket [Bankruptcy > Notices > Notice of Substantial Consummation]
NOTE: Case will remain open AFTER Substantial Consummation
Subchapter V Trustee's services are NOT terminated if a Non-Consensual plan is confirmed until discharge.
DEBTOR DISCHARGE: Completion of Plan Payments
Under a Non-Consensual Plan (Pursuant to 11 USC 1192), Discharge may granted after the debtor completes all payments due within the first 3 years of the Plan (or a Plan not to exceed 5 years).
Once ALL Plan Payments Under the Non-Consensual Plan are Completed, Debtor will file:
Notice of Completion of Plan Payments and Request for Discharge
[Bankruptcy > Plan > Notice of Completion of Plan Payments and Request for Discharge]
- Filing Requirements
- Notice of Completion of Plan Payments and Request for Discharge
- 14-day Notice to All Creditors
- Proof of Service
See Also (Ch 11 Individual Debtor) Notice of Completion of Plan Payments and Request for Discharge
DISCHARGE of SUB V TRUSTEE
Subchapter V Trustee is terminated upon entry of the Debtor's Order of Discharge.