Bankruptcy Information





LAWDOG BANKRUPTCY CHAPTER Plan Of Reorganization LAWDOG is intended to assist in the understanding of basic concepts See Disclaimer Always obtain legal advice from legal professionals Exclusive Right To File Chapter Plan A Plan of Reorganization is a very important concept in a Chapter Bankruptcy During the first day period the debtor in possession may have the exclusive right to propose a Chapter Plan of Reorganization This time period begins generally on the date of the filing of the Chapter bankruptcy petition For a debtor which qualifies and elects to be treated as a Small Business debtor this exclusive period may be days See Small Business Debtor below If the debtor has not filed a Chapter plan before the end of the day exclusive period or has not filed a plan and obtained the acceptances of every class of impaired claims before days after the date of filing or at any time in the unusual Chapter case where a trustee has been appointed any party in interest including the debtor the trustee a creditors' committee a creditor and others may file a plan See Section reproduced for illustration purposes only Content of Chapter Plan Mandatory Provisions The Bankruptcy Code

UNITED STATES BANKRUPTCY COURT NORTHERN DISTRICT OF CALIFORNIA In re Don amp Donna Debtor Case No Debtor Chapter Plan The future earnings of the debtor are submitted to the supervision and control of the trustee and the debtor shall pay to the trustee the sum of for months or until all allowed claims are paid Debtor elect a voluntary wage order Yes No From the payments so received the trustee shall make disbursements as follows s N Shoreline Blvd Suite Mt View CA © Moran Law Group Founding member of the

Advertisement Seen on WCCO WCCO Central Just You Collections Marketplace Lifestyle Other Ways to Get News About Us Our Partners Stocks Data amp More Business Main Local Stock Index Market Summary Market Movers Currencies World Markets Splits CEO Wealthmeter Small Business Center CIO Strategy Mar pm US Central Pension Agency NWA Bankruptcy Plan Lacks Candor WASHINGTON The federal Pension Benefit Guaranty Corp wants Northwest Airlines Corp to make it clear to creditors that the airline will remain stuck with billions of dollars in pension liabilities if it exits bankruptcy proceedings under its current Chapter plan In court papers filed Friday the agency said the disclosure is critically important to Northwest's unsecured creditors because they would end up owning more than percent of the new stock Northwest aims to issue upon its Chapter exit The Eagan Minn based airline's reorganization plan calls for creditors to swap their debt for the new stock But the PBGC said Northwest hasn't been frank about the implications of its pension liabilities in the Chapter disclosure statement it intends to send to creditors Judge Allan Gropper of the U S Bankruptcy Court in Manhattan is scheduled to consider the adequacy of that statement at a

DESSEN MOSES amp ROSSITTO Last Updated May INFORMATION ABOUT BANKRUPTCY If all of your efforts to resolve your credit problems have failed the filing of a bankruptcy petition may be the only logical answer to your problem However you should carefully consider whether this is a rational step since filing bankruptcy can have other serious consequences affecting your credit for years to come in the future We hope that the questions and answers presented here will assist you in familiarizing yourself with bankruptcy issues and terms While the material below attempts to answer common questions in this area nothing provided here is a substitute for the advice of competent counsel We strongly urge you to consult with an attorney licensed to practice in your state about any particular legal problem you may have WHAT IS BANKRUPTCY? Bankruptcy is a legal proceeding commenced in Federal Bankruptcy Court through which an individual couple or business seeks relief from debts and obligations which have become too burdensome The purpose of the bankruptcy law is to halt the legal actions of creditors relieve you of serious financial problems and give you a fresh financial start WHAT IS A CHAPTER BANKRUPTCY? The Chapter or

Wednesday March Font size Bankruptcy plan offered Companies own BR TV stations By Advocate business writer Published Mar The Lafayette based parent companies of four Baton Rouge television stations filed their reorganization plan in U S Bankruptcy Court Wednesday Under the plan which still needs to be accepted by the judge and approved by creditors White Knight Holdings and Communications Corporation of America would Sell three of five out of town stations for roughly million which it would give to creditors represented by GE Capital Corp This would leave million to be paid down over a five year period after which it could be refinanced and creditors could be paid off entirely Allow owners Wayne Elmore and Thomas Galloway and his son Sheldon Galloway to recapitalize the company with million of their own money and retain ownership Pay million to junior creditors owed million though this would happen only after the group led by GE is paid off Pay all of the million owed to vendors White Knight and Communications Corp filed for bankruptcy protection last year with million in debt The companies own television stations in markets in Louisiana Texas and Indiana Among its holdings White Knight owns



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