Understanding The Process Of Modifying A Bankruptcy Plan
Law360, New York (September 18, 2013, 12:35 PM EDT) -- During the course of a bankruptcy case, the debtor (or other plan proponent) may determine that the plan requires modification. The modification may be necessary for any number of reasons, including to correct errors, address objections, reflect negotiated outcomes with constituents or address changes in circumstances.
The permissibility of the modification and the process to be employed in modifying the plan will depend upon where the plan is in the confirmation process.
Modification Before Confirmation
Under Section 1127(a), only a plan proponent may modify the plan...