Subchapter V Reorganizations: Plan Contents, Confirmation, Cramdown, and Discharge

Recording of a 90-minute CLE video webinar with Q&A

This program is included with the Strafford CLE Pass. Click for more information.
This program is included with the Strafford All-Access Pass. Click for more information.

Conducted on Tuesday, May 3, 2022

Recorded event now available

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Course Materials

This CLE course will guide counsel through the issues and process of proposing and confirming a plan of reorganization under Subchapter V of Chapter 11 of the Bankruptcy Code. The program will also review the consequences of consensual confirmation and cramdown on discharge.

Description

A Subchapter V plan's contents are found in Sections 1122, 1123, and 1190 of the Bankruptcy Code, but not all provisions of Section 1123 apply. An important but controversial provision allows debtors to modify certain residential mortgages.

If all impaired classes accept the plan, confirmation is consensual, and discharge is effective immediately. If all impaired classes do not accept the plan, it can still be confirmed under Section 1191, but using different cramdown rules than those in Section 1129.

The logistics of payments and implementation of a plan are also different than in the traditional Chapter 11 plan, as are the type and timing a debtor receives. Many debtors reorganizing under Subchapter V will need to modify the plan due to changing circumstances, and these modifications may vary depending on how the plan was confirmed.

Listen as this experienced panel discusses the plan and confirmation challenges in Subchapter V.

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Outline

  1. Major plan differences between Chapter 11 and Subchapter V
  2. Plan contents: necessary vs. advisable provisions
  3. Role of the Subchapter V trustee in plan creation and confirmation
  4. Requirement of confirmation
  5. Requirements for cramdown
  6. Discharge issues
  7. Post-confirmation default and modification

Benefits

The panel will review these and other key issues:

  • When and how can debtors strip down a residential mortgage?
  • How detailed should the disclosure provisions be?
  • What are the requirements for cramdown and the consequences?
  • How useful is Form 425A?

Faculty

Prescott, Adam
Adam R. Prescott

Shareholder
Bernstein Shur Sawyer & Nelson

With experience in a broad range of industries, including healthcare, hospitality, food and beverage, manufacturing,...  |  Read More

Vulpio, Amy
Amy E. Vulpio

Partner
White and Williams

Ms. Vulpio focuses her practice on creditor and debtor representation, bankruptcy appellate work and bankruptcy-related...  |  Read More

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