Confirming Joint Plans For Multidebtors — Post Tribune
February 9, 2012, 2:18 PM EST
Law360, New York (February 9, 2012, 2:18 PM EST) -- Multiple affiliated debtor entities comprising a single company often simultaneously commence Chapter 11 cases, and their respective bankruptcy cases are administered jointly by a bankruptcy court. A single "joint" Chapter 11 plan may be proposed by numerous affiliated debtors (or by another party in interest) for the joint resolution of the affiliated debtors' respective classes of claims and liabilities.
For a plan to be confirmed, it must satisfy numerous requirements of Section 1129(a) of the Bankruptcy Code. One important confirmation requirement is imposed by Section 1129(a)(10):...
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