This form is an order fixing the time to object to a proposed modification of a confirmed chapter 12 plan. Any objection to the proposed modification must be filed and served on the debtor, the trustee, the United States trustee, and all the creditors.
Maryland Order Fixing Time to Object to Proposed Modification of Confirmed Chapter 12 Plan - B 231A
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How to fill out Order Fixing Time To Object To Proposed Modification Of Confirmed Chapter 12 Plan - B 231A?
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FAQ
In a Chapter 11 case in which the debtor is not an individual, a request for post confirmation modification must be made prior to substantial consummation of the plan. A modification is effective only if the court, after notice and a hearing, confirms the plan as modified.
The cram down effect provides that the court may approve a rehabilitation plan over the opposition of creditors, holding a majority of the total liabilities of the debtor if, in its judgment, the rehabilitation of the debtor is feasible and the opposition of the creditors is manifestly unreasonable. (
Crammed down refers to an investor or creditor being forced to accept undesirable terms. Crammed down is mainly used to describe either a dilutive venture capital (VC) financing round or the imposition of a bankruptcy reorganization plan by the court.
Meaning of cram something down in English to eat a lot of something quickly: I just had time to cram down a few biscuits before we left. Eating.
"Cram down" simply means the process by which the bankruptcy court can, as part of the confirmation of a Chapter 12 Bankruptcy Plan, force treatment upon an objecting creditor, provided the Plan otherwise meets all of the other confirmation criteria under Section 1225 of the Bankruptcy Code.
Modification after confirmation. The court and the trustee will ask you to explain why you need to change your plan payments and provide proof of your changed circumstances (such as a job loss or a reduction in income). If satisfied, the court will order a new plan payment for the duration of your case.
A cramdown is the imposition of a bankruptcy reorganization plan by a court despite any objections by certain classes of creditors. A cramdown is often utilized as a part of the Chapter 13 bankruptcy filing and involves the debtor changing the terms of a contract with a creditor with the help of the court.
An objection to the confirmation of a chapter 13 plan shall be made by motion setting forth the facts and legal arguments that give rise to the objection in sufficient detail to allow the debtor to file a reply or an amended plan that addresses the objection.