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Re: Airbrush19 post# 19769

Monday, 02/22/2021 3:57:44 PM

Monday, February 22, 2021 3:57:44 PM

Post# of 20604
Airbrush the question here may be who is Plan Deposit Party?

This is from investopedia Chapter 11 Subchapter V

Special Considerations
The Small Business Reorganization Act of 2019, which went into effect on Feb. 19, 2020, added a new subchapter V to Chapter 11 designed to make bankruptcy easier for small businesses,12? which are “defined as entities with less than about $2.7 million in debts that also meet other criteria,” according to the U.S. Department of Justice. The act “imposes shorter deadlines for completing the bankruptcy process, allows for greater flexibility in negotiating restructuring plans with creditors, and provides for a private trustee who will work with the small business debtor and its creditors to facilitate the development of a consensual plan of reorganization.

https://www.investopedia.com/terms/c/chapter11.asp

This may go to NASA & IBM being mentioned in re-org plan.

GLTU

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