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Nov 27, 2023 · The proposed reorganization plan would be funded partially by $550,000 from Luftig and an agreement from him to pay $100,000 more. So, basically, Luftig argued he couldn’t do both—he would ...
In In re Hal Luftig Co., the Bankruptcy Court recommended confirmation of a subchapter V small business reorganization plan that provided for the nonconsensual release of a non-debtor third party5. The Bankruptcy Court applied the Purdue III factors when considering the release6.
Dec 2, 2023 · The Plan. The debtor filed a chapter 11 plan to discharge the debtor’s debt owing to the investor and give the owner a release from liability on the $2.9 million arbitration award. In return, the plan called for the owner to supply $600,000 toward payments under the plan.
In Re: 22-11617-jpm Hal Luftig Company, Inc. Memorandum Opinion And Order signed on 11/22/2023 On Confirmation Of Small Business Plan Of Reorganization Under Chapter 11. (related document(s) 55 , 90 , 63 , 85 , 84 )
Jan 9, 2024 · MANDATE of USCA (Certified Copy) as to9 Notice of Appeal, filed by Hal Luftig Company, Inc.,17 Notice of Appeal filed by Hal Luftig USCA Case Number 24-890; 24-1119. The parties in the above-referenced case have filed a stipulation withdrawing this appeal pursuant to FRAP 42. The stipulation is hereby "So Ordered"..
- 1:24-cv-00166
- 423 Bankruptcy-Withdrawal 28 USC 157
- Denise L Cote
Apr 30, 2024 · The Plan included a nonconsensual release of claims by investor FCP against the debtor's president and sole shareholder, Hal Luftig (“Luftig”). On March 19, 2024, the Findings were rejected.
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In this small business case, the Bankruptcy Court has recommended approval a plan of reorganization that contains a nonconsensual release of a non-debtor. For the following reasons, that recommendation is rejected. Background
