Judge Jacobvitz of New Mexico follows Judge Harner of Maryland in developing a standard for deciding whether a Subchapter V debtor may extend the time for filing a plan.
Courts are split when it comes to deciding whether the confirmation date or the filing date should be used to value a secured lender’s collateral in cramdown.
Judge Jacobvitz told counsel for chapter 13 debtors how to write their engagement agreements to ensure being paid from funds held by the trustee if the case converts to chapter 7 before confirmation.
In a SARE case, the BAP says that the bankruptcy court cannot deny a lift-stay motion without finding that confirmation is reasonably possible in a reasonable time.