This form is an order to finally approve a disclosure statement.
Kentucky Order Finally Approving Disclosure Statement and Confirming Plan - B 15S
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FAQ
The disclosure statement is a document that must contain information concerning the assets, liabilities, and business affairs of the debtor sufficient to enable a creditor to make an informed judgment about the debtor's plan of reorganization.
The automatic stay provides a period of time in which all judgments, collection activities, foreclosures, and repossessions of property are suspended and may not be pursued by the creditors on any debt or claim that arose before the filing of the bankruptcy petition.
The intent of hiding your money from the bankruptcy trustee through bank withdrawals is considered bankruptcy fraud. You are putting your bankruptcy case at risk. Aside from losing your discharge, you may even be prosecuted for your crime.
A Disclosure Statement is a written description of a contractor's cost accounting practices and procedures. (A blue print if you will.)
Secured creditors like banks are going to get paid first. This is because their credit is secured by assets?typically ones that your business controls. Your plan and the courts may consider how integral the assets are that secure your loans to determine which secured creditors get paid first though.
The discharge received by an individual debtor in a Chapter 11 case discharges the debtor from all pre-confirmation debts except those that would not be dischargeable in a Chapter 7 case filed by the same debtor.
The disclosure statement must provide adequate information about your financial affairs to allow your creditors to make an informed decision about whether to accept or reject your plan. Once you file your disclosure statement, the court will hold a hearing to approve or reject it.
Terms may apply to offers listed on this page. When a company declares bankruptcy, its stock can end up being worth nothing. It's important to keep tabs on the companies you're invested in and consider selling your stock if you think a bankruptcy filing is imminent.