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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.
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.
Apr 30, 2024 · Hal Luftig Company, Inc. (the “debtor”) has moved for a certificate of appealability for an Opinion of March 19, 2024 (the “Opinion”). For the following reasons, this motion is denied. Background. This litigation concerns a plan of reorganization that included a nonconsensual release of claims against a non-debtor.
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 )
The Bankruptcy Court found that the Luftig Release was necessary to a successful reorganization because it would enable Luftig to continue to operate the Debtor's business and would secure several material benefits to the Debtor, including Luftig's contributions and agreement to subordinate his claims.
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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"..
