11/19/2012 07:19:00 AM EST
In re Friedman, 2012 Bankr. LEXIS 5215 (Bankr. D. Ariz. Nov. 5, 2012)
Collier on Bankruptcy was cited in this recent decision:
Collier on Bankruptcy section cited: 7 Collier on Bankruptcy ¶ 1129.02 (accessible by lexis.com subscribers)
Lexis.com subscribers can view the enhanced version of In re Friedman.
LexisNexis Overview: The debtors filed a Second Amended Plan of Reorganization which provided that upon confirmation all assets of their bankruptcy estate would be vested in the debtors, that they would continue to work in their business management company and pay all expenses of their personal lives on a current basis, and that they would pay their disposable income to a plan fund in an amount not less than $1,800 per month for the first 20 months and $2,300 per month for months 21-60, for distribution to creditors. The court held a hearing on the plan and a creditor's objections, and found that the plan could be confirmed. There was no merit to the creditor's claim that the debtors were not allowed to propose modifications to their plan, and the debtors' plan, as modified met all the requirements of 11 U.S.C.S. § 1129(a) and (b) and was feasible. The plan did not violate 11 U.S.C.S. § 1122 because it placed the dissenting creditor's unsecured claim in a separate class from other unsecured claims because the dissenting creditor's claim was composed to both a secured claim and an unsecured claim so it was not the same as other unsecured claims [an annotated version of 11 U.S.C.S. § 1122 is available to lexis.com subscribers]; [an annotated version of 11 U.S.C.S. § 1129 is available to lexis.com subscribers].
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