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Ronnie E. Swift, Ch. 11, BK11-80717-TJM (Nov. 1, 2012)

The court sustained various objections to the debtor’s Chapter 11 plan on grounds of feasibility, lack of good faith, and improper classification of claims. Moreover, there is no precedent for allowing a Chapter 11 debtor who has no legal obligation on a note to modify the terms of that note via his plan.

Thursday, November 1, 2012