Best Interests of Creditors Test

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Mercifully, I’m going to experiment with how short I can make case summaries. Earlier this month, Michigan Bankruptcy Judge Applebaum denied confirmation in Lapeer Aviation’s Subchapter V bankruptcy cases. Lapeer operates the Dupont-Lapeer Airport (D95), which is about 25 miles east of Flint. Before addressing 4 objections, which were raised in a two-day evidentiary hearing , the Court reminds us that, even without objections, it has an independent duty to inquire into the plan confirmation requirements.

Ultimately, the Court denied confirmation for liquidation test and unfair discrimination reasons.Continue Reading Michigan Bankruptcy Court Examines Subchapter V Confirmation Requirements

Last month, Judge Laura Grandy, a bankruptcy judge in the Southern District of Illinois, entered confirmation opinion in STC, Inc.’s Chapter 11 case. The opinion is noteworthy for 2 reasons. First, it amounts to an excellent treatise on the Section 1129 confirmation requirements. Second, I’m honored that Judge Grandy cited in her opinion the American…