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Plan Of Reorganization In Small Business Case Under Chapter 11 Form. This is a Official Federal Forms form and can be use in General Bankruptcy.
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Tags: Plan Of Reorganization In Small Business Case Under Chapter 11, B 25A, Official Federal Forms Bankruptcy, General
B25A (Official Form 25A) (12/11)
United States Bankruptcy Court
__________________ District of _____________
In re
,
Case No. ____________________
Debtor
Small Business Case under Chapter 11
[NAME OF PROPONENT]’S PLAN OF REORGANIZATION, DATED [INSERT DATE]
ARTICLE I
SUMMARY
This Plan of Reorganization (the “Plan”) under chapter 11 of the Bankruptcy Code (the
“Code”) proposes to pay creditors of [insert the name of the debtor] (the “Debtor”) from
[specify sources of payment, such as an infusion of capital, loan proceeds, sale of assets, cash
flow from operations, or future income].
This Plan provides for __________ classes of secured claims; _____ classes of unsecured
claims; and ______ classes of equity security holders. Unsecured creditors holding allowed
claims will receive distributions, which the proponent of this Plan has valued at approximately
__ cents on the dollar. This Plan also provides for the payment of administrative and priority
claims [if payment is not in full on the effective date of this Plan with respect to any such claim
(to the extent permitted by the Code or the claimant’s agreement), identify such claim and briefly
summarize the proposed treatment.]
All creditors and equity security holders should refer to Articles III through VI of this
Plan for information regarding the precise treatment of their claim. A disclosure statement that
provides more detailed information regarding this Plan and the rights of creditors and equity
security holders has been circulated with this Plan. Your rights may be affected. You should
read these papers carefully and discuss them with your attorney, if you have one. (If you do
not have an attorney, you may wish to consult one.)
ARTICLE II
CLASSIFICATION OF CLAIMS AND INTERESTS
2.01
Class 1.
All allowed claims entitled to priority under § 507 of the Code
(except administrative expense claims under § 507(a)(2), [“gap”
period claims in an involuntary case under § 507(a)(3),] and
priority tax claims under § 507(a)(8)).
2.02
Class 2.
The claim of
, to the extent allowed
as a secured claim under § 506 of the Code.
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[Add other classes of secured creditors, if any. Note: Section
1129(a)(9)(D) of the Code provides that a secured tax claim which
would otherwise meet the description of a priority tax claim under
§ 507(a)(8) of the Code is to be paid in the same manner and over
the same period as prescribed in § 507(a)(8).]
2.03
Class 3.
All unsecured claims allowed under § 502 of the Code.
[Add other classes of unsecured claims, if any.]
2.04
Class 4 .
Equity interests of the Debtor. [If the Debtor is an individual,
change this heading to “The interests of the individual Debtor in
property of the estate.”]
ARTICLE III
TREATMENT OF ADMINISTRATIVE EXPENSE CLAIMS,
U.S. TRUSTEES FEES, AND PRIORITY TAX CLAIMS
3.01 Unclassified Claims. Under section §1123(a)(1), administrative expense claims,
[“gap” period claims in an involuntary case allowed under § 502(f) of the Code,] and priority tax
claims are not in classes.
3.02 Administrative Expense Claims. Each holder of an administrative expense claim
allowed under § 503 of the Code [, and a “gap” claim in an involuntary case allowed under
§ 502(f) of the Code,] will be paid in full on the effective date of this Plan (as defined in Article
VII), in cash, or upon such other terms as may be agreed upon by the holder of the claim and the
Debtor.
3.03 Priority Tax Claims. Each holder of a priority tax claim will be paid [specify
terms of treatment consistent with § 1129(a)(9)(C) of the Code].
3.04 United States Trustee Fees. All fees required to be paid by 28 U.S.C. §1930(a)(6)
(U.S. Trustee Fees) will accrue and be timely paid until the case is closed, dismissed, or
converted to another chapter of the Code. Any U.S. Trustee Fees owed on or before the effective
date of this Plan will be paid on the effective date.
ARTICLE IV
TREATMENT OF CLAIMS AND INTERESTS UNDER THE PLAN
4.01
Claims and interests shall be treated as follows under this Plan:
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B25A (Official Form 25A) (12/11) - Cont.
Class
Impairment
3
Treatment
Class 1 - Priority
Claims
[State whether
impaired or
unimpaired.]
[Insert treatment of priority claims in this Class,
including the form, amount and timing of
distribution, if any. For example: “Class 1 is
unimpaired by this Plan, and each holder of a
Class 1 Priority Claim will be paid in full, in
cash, upon the later of the effective date of this
Plan as defined in Article VII, or the date on
which such claim is allowed by a final nonappealable order. Except: ________.”]
Class 2 – Secured
Claim of [Insert
name of secured
creditor.]
[State whether
impaired or
unimpaired.]
[Insert treatment of secured claim in this Class,
including the form, amount and timing of
distribution, if any.]
Class 3 - General
Unsecured
Creditors
[State whether
impaired or
unimpaired.]
[Add class[es] of secured claims if applicable]
[Insert treatment of unsecured creditors in this
Class, including the form, amount and timing of
distribution, if any.]
[Add administrative convenience class if
applicable]
Class 4 - Equity
Security Holders
of the Debtor
[State whether
impaired or
unimpaired.]
[Insert treatment of equity security holders in
this Class, including the form, amount and
timing of distribution, if any.]
ARTICLE V
ALLOWANCE AND DISALLOWANCE OF CLAIMS
5.01
Disputed Claim. A disputed claim is a claim that has not been allowed or
disallowed [by a final non-appealable order], and as to which either: (i) a proof of claim has been
filed or deemed filed, and the Debtor or another party in interest has filed an objection; or (ii) no
proof of claim has been filed, and the Debtor has scheduled such claim as disputed, contingent,
or unliquidated.
5.02
Delay of Distribution on a Disputed Claim. No distribution will be made on
account of a disputed claim unless such claim is allowed [by a final non-appealable order].
5.03
Settlement of Disputed Claims. The Debtor will have the power and authority to
settle and compromise a disputed claim with court approval and compliance with Rule 9019 of
the Federal Rules of Bankruptcy Procedure.
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ARTICLE VI
PROVISIONS FOR EXECUTORY CONTRACTS AND UNEXPIRED LEASES
6.01
Assumed Executory Contracts and Unexpired Leases.
(a)
The Debtor assumes the following executory contracts and/or unexpired
leases effective upon the [Insert “effective date of this Plan as provided in Article VII,” “the date
of the entry of the order confirming this Plan,” or other applicable date]:
[List assumed executory contracts and/or unexpired leases.]
(b)
The Debtor will be conclusively deemed to have rejected all executory
contracts and/or unexpired leases not expressly assumed under section 6.01(a) above, or before
the date of the order confirming this Plan, upon the [Insert “effective date of this Plan,” “the date
of the entry of the order confirming this Plan,” or other applicable date]. A proof of a claim
arising from the rejection of an executory contract or unexpired lease under this section must be
filed no later than __________ (___) days after the date of the order confirming this Plan.
ARTICLE VII
MEANS FOR IMPLEMENTATION OF THE PLAN
[Insert here provisions regarding how the plan will be implemented as required under
§1123(a)(5) of the Code. For example, provisions may include those that set out how the plan
will be funded, as well as who will be serving as directors, officers or voting trustees of the
reorganized debtor.]
ARTICLE VIII
GENERAL PROVISIONS
8.01 Definitions and Rules of Construction. The definitions and rules of construction
set forth in §§ 101 and 102 of the Code shall apply when terms defined or construed in the Code
are used in this Plan, and they are supplemented by the following definitions: [Insert additional
definitions if necessary].
8.02 Effective Date of Plan. The effective date of this Plan is the first business day
following the date that is fourteen days after the entry of the order of confirmation. If, however,
a stay of the confirmation order is in effect on that date, the effective date will be the first
business day after the date on which the stay of the confirmation order expires or is otherwise
terminated.
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8.03 Severability. If any provision in this Plan is determined to be unenforceable, the
determination will in no way limit or affect the enforceability and operative effect of any other
provision of this Plan.
8.04 Binding Effect. The rights and obligations of any entity named or referred to in
this Plan will be binding upon, and will inure to the benefit of the successors or assigns of such
entity.
8.05 Captions. The headings contained in this Plan are for convenience of reference
only and do not affect the meaning or interpretation of this Plan.
[8.06 Controlling Effect. Unless a rule of law or procedure is supplied by federal law
(including the Code or the Federal Rules of Bankruptcy Procedure), the laws of the State of
____________ govern this Plan and any agreements, documents, and instruments executed in
connection with this Plan, except as otherwise provided in this Plan.]
[8.07 Corporate Governance. [If the Debtor is a corporation include provisions
required by § 1123(a)(6) of the Code.]]
ARTICLE IX
DISCHARGE
[If the Debtor is not entitled to discharge under 11 U.S.C. § 1141(d)(3) change this heading to
“NO DISCHARGE OF DEBTOR.”]
9.01. [Option 1 – If Debtor is an individual and § 1141(d)(3) is not applicable]
Discharge. Confirmation of this Plan does not discharge any debt provided for in this
Plan until the court grants a discharge on completion of all payments under this Plan, or as
otherwise provided in § 1141(d)(5) of the Code. The Debtor will not be discharged from any
debt excepted from discharge under § 523 of the Code, except as provided in Rule 4007(c) of the
Federal Rules of Bankruptcy Procedure.
[Option 2 -- If the Debtor is a partnership and section 1141(d)(3) of the Code
is not applicable]
Discharge. On the confirmation date of this Plan, the debtor will be discharged from any
debt that arose before confirmation of this Plan, subject to the occurrence of the effective date, to
the extent specified in § 1141(d)(1)(A) of the Code. The Debtor will not be discharged from any
debt imposed by this Plan.
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[Option 3 -- If the Debtor is a corporation and § 1141(d)(3) is not applicable]
Discharge. On the confirmation date of this Plan, the debtor will be discharged from any
debt that arose before confirmation of this Plan, subject to the occurrence of the effective date, to
the extent specified in § 1141(d)(1)(A) of the Code, except that the Debtor will not be discharged
of any debt: (i) imposed by this Plan; (ii) of a kind specified in § 1141(d)(6)(A) if a timely
complaint was filed in accordance with Rule 4007(c) of the Federal Rules of Bankruptcy
Procedure; or (iii) of a kind specified in § 1141(d)(6)(B).
[Option 4 – If § 1141(d)(3) is applicable]
No Discharge. In accordance with § 1141(d)(3) of the Code, the Debtor will not receive
any discharge of debt in this bankruptcy case.
ARTICLE X
OTHER PROVISIONS
[Insert other provisions, as applicable.]
Respectfully submitted,
By: _______________________________________
The Plan Proponent
By:_________________________________________
Attorney for the Plan Proponent
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