Bankr. No.:
90-10094
Chapter:
11
Date of Decision:
April 5, 1991
Issue:
Whether movant established year-old Chapter 11 debtor had an "inability to effectuate a plan" or had caused "unreasonable delay" that was prejudicial to creditors so as to establish cause for dismissal?
Ruling:
Movant failed to establish that there was no more than a "hopeless and unrealistic possibility" that the debtor could propose a confirmable plan that met the new value exception to the absolute priority rule or that the debtor could not propose a feasible plan.
Full Bankruptcy Court Decision: