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2021 Stroock Bankruptcy Guide

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214 the court determines that it would be in the best interests of creditors and the estate to hold the hearing at an earlier date and there is no objection to such earlier date. 11 U.S.C. § 1324(b). As in a Chapter 11 case, when the court finds that the plan satisfies all confirmation requirements, it will enter an order confirming the plan. However, such an order may be revoked on request of a party in interest, after notice and a hearing, at any time before 180 days after the date the confirmation order was entered. 11 U.S.C. § 1330(a). The court may only revoke the confirmation order if it finds that the order was procured by fraud. Id. 118 2. Confirmation Requirements The court is required to confirm a debtor's Chapter 13 plan if the following requirements are satisfied: (i) the plan complies with the provisions of Chapter 13 and with the other applicable provisions of the Bankruptcy Code; (ii) any fee, charge or bankruptcy fee and any amounts required by the plan to be paid before confirmation have been paid; (iii) the plan has been proposed in good faith and not by any means prohibited by law; (iv) the value of property to be distributed under the plan on account of each allowed unsecured claim is not less than what the holder of such claim would receive in a Chapter 7 liquidation (the "best interests test"); (v) the debtor will be able to make all payments under the plan and to comply with the plan (the "feasibility test"); 118 If the court revokes the confirmation order, it must convert or dismiss the Chapter 13 case unless the plan is modified appropriately. 11 U.S.C. § 1330(b).

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