Examples of Combined Disclosure Statement and Plan in a sentence
The Debtor is not otherwise required to provide a copy of the Combined Disclosure Statement and Plan to any holders of claims conclusively presumed to accept or reject the Plan of Reorganization but will do so upon request from such holders of claims.
The Debtor believes that, under the Combined Disclosure Statement and Plan, all Impaired Classes of Claims or Interests are treated in a manner that is consistent with the treatment of other Classes of Claims or Interests that are similarly situated, if any, and no Class of Claims or Interests will receive payments or property with an aggregate value greater than the aggregate value of the Allowed Claims or Allowed Interests in such Class.
Among other things, the Solicitation Procedures Order, approved the adequacy of the disclosures in the Combined Disclosure Statement and Plan on an interim basis and set certain deadlines for the solicitation of the Plan, voting on the Combined Disclosure Statement and Plan, filing objections to the Combined Disclosure Statement and Plan and a hearing to consider approval of the Combined Disclosure Statement and Plan.
Therefore, such holders are not entitled to vote to accept or reject the Combined Disclosure Statement and Plan.2.Class 2 – Other Priority Claims(1)Classification: Class 2 consists of all Other Priority Claims.(2)Treatment: Each holder of an Allowed Other Priority Claim shall receive treatment in a manner consistent with section 1129(a)(9) of the Bankruptcy Code.(3)Voting: Class 2 is Unimpaired under the Combined Disclosure Statement and Plan.
The Liquidating Trustee may seek to investigate, file, and prosecute Claims and may object to Claims after Confirmation and Consummation of the Plan, irrespective of whether this Combined Disclosure Statement and Plan identifies such Claims or Objections to Claims.
The Bankruptcy Court must find, however, that a number of statutory tests are met before it may confirm the Combined Disclosure Statement and Plan.
If a Class contains Claims or Interests eligible to vote and no holders of Claims or Interests eligible to vote in such Class vote to accept or reject the Combined Disclosure Statement and Plan, the holders of such Claims or Interests in such Class shall be deemed to have accepted the Combined Disclosure Statement and Plan.
On July 2, 2021, the Court approved the Independent Manager Motion [Docket No. 237].Since June 1, 2021, Ms. Dreyer has served as the independent Manager of the Debtor, and has been making the business decisions for the Debtor and its estate, including the terms of this Combined Disclosure Statement and Plan.
Based on the Debtor’s analysis, the Liquidating Trustee will have sufficient assets to accomplish their respective tasks under the Combined Disclosure Statement and Plan.
If the date on which a transaction may occur pursuant to the Combined Disclosure Statement and Plan shall occur on a day that is not a Business Day, then such transaction shall instead occur on the next succeeding Business Day.