Bankruptcy Plan of Reorganization

The video tutorial explains the Chapter 11 bankruptcy process, focusing on the debtor's responsibility to propose a reorganization plan within 120 days. The plan must include mandatory provisions and is submitted to the court for approval. Creditors vote on the plan, with specific rules for secured and unsecured creditors. The court evaluates the plan's feasibility, ensuring it meets the best interest of creditors and follows priority rules. The process includes a cram down strategy to enforce the plan despite creditor objections. The court retains authority to approve the plan based on various factors, including the business's earning power and market conditions.

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