Luxurious Lifestyles Can Undermine the Good Faith Requirement for ?Proposed Chapter 11 Plans of Reorganization
ABI
JANUARY 10, 2020
4] Debtor’s initial proposed plan was rejected by the judgment creditors because it paid them less than twenty percent on the outstanding debts. The second plan proposed paying those creditors in full over two decades. 20] The debtors had “over $500,000 in unsecured debt, [but]. per year. [5]
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