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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.
On November 22, 2023, the Honorable John P. Mastando III of the United States Bankruptcy Court for the Southern District of New York issued Findings that recommended the confirmation of a Small Business Plan of Reorganization under Chapter 11 (the “Plan”) for the 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 )
Pending before the Court is the request of Debtor Hal Luftig Company, Inc. (the “ Debtor ”) to confirm the Debtor’s Small Business Plan of Reorganization Under Chapter 11 of the Bankruptcy Code (Docket No. 55)
The proponent of a plan of reorganization under Subchapter V of the Bankruptcy Code has the burden of proving eligibility for confirmation of the plan under 11 U.S.C. § 1191.
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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Feb 20, 2023 · With $150,000 in assets and over $2.8 million in debts, the production company declared bankruptcy and is aiming for a reorganization. By: Cara Joy David Feb. 20, 2023. Click Here for More on...
