11 U.S.C. § 1193 — Modification of plan
submitted 7 years ago by Pub. L. 116-54 to r/title-11-BANKRUPTCY · 350 words · no verdicts yet
This section allows a debtor to modify a plan before or after confirmation, under different conditions depending on how the plan was confirmed. It also addresses how prior acceptances or rejections are treated after a modification.
(a) Modification before confirmation. The debtor* may modify a plan at any time before confirmation, but the modified plan must still satisfy sections 1122 and 1123, except section 1123(a)(8). Once filed with the court, the modified plan becomes the plan.
(b) Modification after confirmation. If the plan was confirmed under section 1191(a), the debtor may modify it after confirmation and before substantial consummation. The modified plan must satisfy sections 1122 and 1123, except section 1123(a)(8). It becomes the plan only if circumstances warrant the change and the court, after notice and a hearing, confirms it under section 1191(a).
(c) Certain other modifications. If the plan was confirmed under section 1191(b), the debtor may modify it within 3 years, or within a longer court-fixed period not exceeding 5 years. The modified plan must satisfy section 1191(b). It becomes the plan only if circumstances warrant the change and the court, after notice and a hearing, confirms it under section 1191(b).
(d) Holders of a claim* or interest. If a plan was confirmed under section 1191(a), a holder that accepted or rejected it is treated as having accepted or rejected the modified plan in the same way, unless the holder changes that decision within the time fixed by the court.
The debtor* may modify a plan at any time before confirmation, but may not modify the plan so that the plan as modified fails to meet the requirements of sections 1122 and 1123 of this title, with the exception of subsection (a)(8) of such section 1123. After the modification is filed with the court, the plan as modified becomes the plan.
If a plan has been confirmed under section 1191(a) of this title, the debtor may modify the plan at any time after confirmation of the plan and before substantial consummation of the plan, but may not modify the plan so that the plan as modified fails to meet the requirements of sections 1122 and 1123 of this title, with the exception of subsection (a)(8) of such section 1123. The plan, as modified under this subsection, becomes the plan only if circumstances warrant the modification and the court, after notice and a hearing, confirms the plan as modified under section 1191(a) of this title.
If a plan has been confirmed under section 1191(b) of this title, the debtor may modify the plan at any time within 3 years, or such longer time not to exceed 5 years, as fixed by the court, but may not modify the plan so that the plan as modified fails to meet the requirements of section 1191(b) of this title. The plan as modified under this subsection becomes the plan only if circumstances warrant such modification and the court, after notice and a hearing, confirms such plan, as modified, under section 1191(b) of this title.
If a plan has been confirmed under section 1191(a) of this title, any holder of a claim or interest that has accepted or rejected the plan is deemed to have accepted or rejected, as the case may be, the plan as modified, unless, within the time fixed by the court, such holder changes the previous acceptance or rejection of the holder.
Source credit: (Added Pub. L. 116–54, § 2(a), Aug. 23, 2019, 133 Stat. 1083.)
- 2019Enacted · Pub. L. 116-54 · 133 Stat. 1083
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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