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Courts Are Now Split on Ignoring Nonvoting Classes in Subchapter V Plans

Disagreeing with two bankruptcy courts in Houston, Miami’s Judge Isicoff holds that a Sub V plan with a nonvoting class can be confirmed only as a nonconsensual plan.

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kyle.arendsen@…

Lack of voting by the SBA and other governmental entities has been a consistent issue in sub V cases, no? Not sure how to remedy this issue to get to a consensual plan in cases where there are a small number of creditor classes, and the court decides to enforce the plain language of the Code.

Mon, 2024-07-08 10:33 Permalink
thomas.salerno…

Seems to me that allowing non-voting creditors to have blocking rights incentivizes and rewards non-participation in a process. That makes no sense to me, and strikes me as counterproductive.

Tue, 2024-07-09 19:28 Permalink