By Lawrence R. Ahern, III, Brown & Ahern (Nashville, TN) Introduction The Academy has focused at length on the Small Business Reorganization Act of 2019 (SBRA).1 SBRA deals on its face with a non-consumer topic, but it is of interest also to Chapter 12 and 13 trustees and debtors, creating a new, more debtor-friendly subchapter V of Chapter 11 for...
From the Editor – Eligibility
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By The Honorable William Houston Brown (Retired)
Debt to FDIC was unliquidated. Denying the trustee’s motion to dismiss for exceeding the debt limit, the court found that a debt to FDIC was noncontingent but it was unliquidated; therefore, that debt was not counted for eligibility purposes under § 109(e). Litigation was still pending by FDIC against the debtor, a former officer and director or a failed bank. FDIC stated that damages could exceed $33 million, but the amount of the claim was not readily ascertainable by a simple computation. The value of the claim will . . .
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