Luxurious Lifestyles Can Undermine the Good Faith Requirement for ?Proposed Chapter 11 Plans of Reorganization
ABI
JANUARY 10, 2020
American Bankruptcy Institute Law Review Staff Member. Luxurious lifestyles alone do not violate the good faith requirement for proposing a plan of reorganization under Chapter 11 of Title 11 of the United States Code (the “Bankruptcy Code”). The second plan proposed paying those creditors in full over two decades.
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