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Excerpt from Practical Guidance

Expert Analysis

Evaluating Who May File A Ch. 11 Plan

Law360, New York (July 25, 2013, 1:52 PM EDT) -- In order for a debtor to emerge from Chapter 11, a Chapter 11 plan for the debtor must be filed, the plan must be accepted by the requisite class or classes of stakeholders, the plan must be confirmed by the bankruptcy court, and then the plan must be consummated. Because the plan will determine the outcome of the Chapter 11 case and the future of the debtor, which party has the right to file a plan is of central importance in a Chapter 11 case....

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