Tag: disclosure statement

Bankr. E.D.N.C.: In re KAD- No Confirmation without Disclosure Statement or Adequate Information under § 1125(f)(1) included in the Plan


Pursuant to 11 U.S.C. § 1129(e), in a small business case, a plan shall be confirmed not later than forty-five days after it is filed, unless the time for confirmation is extended. In a Chapter 11 case, a disclosure statement complying with 11 U.S.C. § 1125 shall be filed with the plan. In this case, a disclosure statement was neither filed with the Plan nor did the Plan contain adequate information under § 1125 to also serve as a disclosure statement as it did not include an accounting of funds
on hand, projections of income to be earned, and itemization of assets or even a description of the Debtor’s nature and history or any information regarding its books and records.… Read More

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