Jones County GA Chapter 11 bankruptcy plan lawyer
Chapter 11 bankruptcy plan of reorganization in Jones County Georgia
A written disclosure statement and a reorganization plan has to be presented to the court. A disclosure statement is a document that will contain information regarding the assets, liabilities, and affairs of the debtor sufficient to help a creditor to take an informed decision about the plan. The information needed is governed by judicial discretion and the circumstances of the case. The plan should provide a classification of claims and must specify how each class of claims will be considered according to the plan. The plan should be voted upon by those creditors whose claims are impaired, i.e., those whose contractual rights are to be altered or who will be paid less than the full value of their claims under the plan. When the statement of disclosure is approved and the ballots are cast and counted, there must be a confirmation hearing at which the court determines whether to confirm the plan.
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Macon Georgia bankruptcy lawyer | Bankruptcy attorneys in Macon GA and Warner Robins – Filing for Chapter 7 Bankruptcy and Chapter 13 Bankruptcy in Macon GA
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