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1. www.broadwayworld.com › article › Bankruptcy-CourtBankruptcy Court Recommends Approving Hal Luftig Company ...

   www.broadwayworld.com › article › Bankruptcy-Court

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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.

2. amburlaw.com › sub-v-plan-with-non-debtor-releaseSub V Plan with Non-debtor Release Approved over Opposition ...

   amburlaw.com › sub-v-plan-with-non-debtor-release

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   Dec 2, 2023 · 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.

3. www.clearygottlieb.com › - › mediaCleary Gottlieb Third Party Releases in Subchapter V Plans

   www.clearygottlieb.com › - › media

   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.

4. content.clearygottlieb.com › corporate › globalCleary Gottlieb | Third Party Releases in Subchapter V Plans

   content.clearygottlieb.com › corporate › global

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   Thus, with respect to nonconsensual third party releases, the Hal Luftig Co. District Court drew a line in the sand in favor of creditor protections over subchapter V’s goal of streamlining reorganization for small business debtors. Cleary Gottlieb explores the ongoing debate on third party releases in Subchapter V plans.

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5. www.nysb.uscourts.gov › sites › defaultUNITED STATES BANKRUPTCY COURT SOUTHERN DISTRICT OF NEW YORK

   www.nysb.uscourts.gov › sites › default

   Plaintiff also reasserts that Mr. Luftig is entitled to indemnification by Plaintiff. [Reply 8.] Plaintiff has attached the bylaws of Hal Luftig Company, Inc.to the Supplemental Declaration, which bylaws state: Any person made or threatened to be made a party to an action or proceeding,

6. www.nysb.uscourts.gov › content › re-22-11617-jpmIn Re: 22-11617-jpm Hal Luftig Company, Inc. | Southern ...

   www.nysb.uscourts.gov › content › re-22-11617-jpm

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   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 )

7. People also ask

   Did Hal Luftig win a reorganization plan?

   • As his Here Lies Love played its last performances on Broadway, producer Hal Luftig scored a significant victory in court. The Bankruptcy Court of the Southern District of New York recommended confirming the reorganization plan for Hal Luftig Company, Inc. (the "Company" for short).

   Bankruptcy Court Recommends Approving Hal Luftig Company Reorg P…

   www.broadwayworld.com/article/Bankruptcy-Court-Recommends-Approving-Hal-Luftig-Company-Reorg-Plan-With-Caveats-20231127

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   Can Luftig release FCP claims?

   • But the Court found the release of the FCP claims against Luftig played “an important part in the debtor’s reorganization plan,” giving it the power to release the claims, even over these objections. (The Court's opinion relied heavily on an appellate decision that will be before the Supreme Court next year, but currently remains good law.)

   Bankruptcy Court Recommends Approving Hal Luftig Company Reorg P…

   www.broadwayworld.com/article/Bankruptcy-Court-Recommends-Approving-Hal-Luftig-Company-Reorg-Plan-With-Caveats-20231127

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   Why did FCP oppose Luftig?

   • FCP objected to the plan. FCP argued the filing was an abuse of the system and approving the release would allow Luftig to escape millions in liability.

   Bankruptcy Court Recommends Approving Hal Luftig Company Reorg P…

   www.broadwayworld.com/article/Bankruptcy-Court-Recommends-Approving-Hal-Luftig-Company-Reorg-Plan-With-Caveats-20231127

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   How long is a small business reorganization opinion?

   • Many small business reorganizations are simple and conclude with a brief opinion. The opinion issued in this case was 65 pages and didn’t even render a final decision confirming the plan of reorganization. Why? The FCP judgment.

   Bankruptcy Court Recommends Approving Hal Luftig Company Reorg P…

   www.broadwayworld.com/article/Bankruptcy-Court-Recommends-Approving-Hal-Luftig-Company-Reorg-Plan-With-Caveats-20231127

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   Could FCP still go after Luftig?

   • The FCP judgment. Under the reorganization plan, the Company’s expert projected FCP would receive $1,022,500, or approximately a 36% recovery, in installment payments spread out over five years. If the reorganization plan didn’t say anything with regard to Luftig individually, FCP could then still go after Luftig for its money.

   Bankruptcy Court Recommends Approving Hal Luftig Company Reorg P…

   www.broadwayworld.com/article/Bankruptcy-Court-Recommends-Approving-Hal-Luftig-Company-Reorg-Plan-With-Caveats-20231127

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8. casetext.com › case › in-re-hal-luftig-co-1In re Hal Luftig Co., 24cv166 (DLC) | Casetext Search + Citator

   casetext.com › case › in-re-hal-luftig-co-1

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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