HI iPrelude,
I did not realize that there Were two Reorganization proposals submitted. I thought that as per the timeline, both debtor and the committee of unsecured crditors should have come to an agreement by the end of February.
Can the Committee submit a Chapter 11 Reorganization proposal on its own? I am not sure about it.
First NBC Bank Holding Timeline Filed
The U.S. Bankruptcy Court issued an order detailing First NBC Bank Holding's timeline for filing of Plan and Disclosure Statement following the status conference. According to the order, "Debtor will give the Committee a plan term sheet no later than February 2, 2018. No later than February 28, 2018, the Committee will advise Debtor whether it will support Debtor's plan. All Disclosure Statements and Plans be filed no later than March 14, 2018. The tentative hearing date on approval of the Disclosure Statement(s) is April 19, 2018, at 9:00 a.m. If no Disclosure Statements and Plans are filed by March 14, 2018, the U.S. Trustee will file a Motion to Convert to Chapter 7."
