Examples of Chapter 5 Causes of Action in a sentence
For the avoidance of doubt, only the claims of the Debtors’ Estates to the proceeds of Committee Litigation, Avoidance Actions, and other Chapter 5 Causes of Action are included in the Liquidation Trust Assets as set forth in Section G, below.
Additionally, upon review of the payments made by the Debtor preceding the filing of the Bankruptcy Case, the Debtor does not believe that there exist any significant Chapter 5 Causes of Action (generally in the nature of preferences or fraudulent conveyances) which, taking into account costs of litigation and likelihood of success, would be worth pursuing for the benefit of creditors.
In the event the Reorganized Debtors determine that the Debtors’ estates have actionable Chapter 5 Causes of Action (collectively, the “Actionable Chapter 5 Causes of Action”), the Reorganized Debtors shall request and attend a status conference (the “Status Conference”) before this Court with respect to the Actionable Chapter 5 Causes of Action.
If a Status Conference is necessary with respect to Actionable Chapter 5 Causes of Action, the Chapter 5 Cause of Action Deadline shall be stayed with respect to those Actionable Chapter 5 Causes of Action until a date that is seven (7) days after the completion of the Status Conference.
Pursuant to § 1123(b) of the Bankruptcy Code, all Causes of Action (including Chapter 5 Causes of Action) are hereby preserved by this Plan, notwithstanding the occurrence of the Effective Date.