Not having challenged pre-petition liens on time, a chapter 7 trustee was barred from taking over an adversary proceeding initiated by a now-dissolved chapter 11 creditors’ committee.
Utah’s Judge Thurman says that a corporation liquidating its remaining assets is engaged in business ‘activities’ and is therefore eligible for Subchapter V.
Third Circuit dicta suggests that failure to create a trust is constitutionally deficient and won’t discharge claims of ‘unknown’ creditors in a chapter 11 plan.
