Chapter 11 announced
Dear Scouting Family,Today, the national organization of the Boy Scouts of America (BSA) filed for Chapter 11 bankruptcy to achieve two key objectives: equitably compensate victims who were harmed during their time in Scouting and continue to carry out Scouting’s mission for years to come.While the word “bankruptcy” can be intimidating, it is important to know that Scouting programs will continue. Your regular unit meetings and activities, district and council events, other Scouting adventures a
Yes, if push comes to shove the judge can convert but not simply because the settlement is too low but because the payments aren't being made OR because the debtor is acting in bad faith OR in the "best interests of creditors and the estate." 11 U.S. Code § 1112. Conversion or dismissal
EDIT: Additional reasons for (forced) conversion of a Chapter 11 to a Chapter 7. In re Costa Bonita Beach Resort, 513 B.R. 184, 200-01 (Bankr. D.P.R. 2014) (quoting Alan N. Resnick & Henry J. Somm
