11 U.S.C. § 1190 — Contents of plan
submitted 7 years ago by Pub. L. 116-54 to r/title-11-BANKRUPTCY · 156 words · no verdicts yet
A plan must describe the business, analyze liquidation, project payments, and provide for necessary future income under trustee supervision.
The plan must include a business history, liquidation analysis, and payment projections; provide necessary future earnings or income to the trustee’s supervision; and may modify a qualifying claim* secured only by the debtor’s principal residence* when the new value was used mainly for the debtor’s small business rather than to acquire the property.
A plan filed under this subchapter—
shall include—
a brief history of the business operations of the debtor*;
a liquidation analysis; and
projections with respect to the ability of the debtor to make payments under the proposed plan of reorganization;
shall provide for the submission of all or such portion of the future earnings or other future income of the debtor to the supervision and control of the trustee as is necessary for the execution of the plan; and
notwithstanding section 1123(b)(5) of this title, may modify the rights of the holder of a claim* secured only by a security interest in real property that is the principal residence of the debtor if the new value received in connection with the granting of the security interest was—
not used primarily to acquire the real property; and
used primarily in connection with the small business of the debtor.
Source credit: (Added Pub. L. 116–54, § 2(a), Aug. 23, 2019, 133 Stat. 1082.)
- 2019Enacted · Pub. L. 116-54 · 133 Stat. 1082
A history note hasn’t been published yet. The record shows enactment by Pub. L. 116-54 on 2019-08-23.
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