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11 U.S.C. § 1174 — Liquidation
Federal law — U.S. Code and appendices · legal_authorities
On request of a party in interest and after notice and a hearing, the court may, or, if a plan has not been confirmed under [section 1173 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1173&num=0&edition=prelim) before five years after the date of the order for relief, the court shall, order the trustee to cease the debtor’s operation and to collect and reduce to money all of the property of the estate in the same manner as if the case were a case under chapter 7 of this title.
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Source file: Laws/federal/codes/united-states-code/title-11/section-1174-liquidation--3a52663a52.md
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Source location: Title 11, Chapter 11, § 1174; chapter-011-reorganization.md
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On request of a party in interest and after notice and a hearing, the court may, or, if a plan has not been confirmed under [section 1173 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1173&num=0&edition=prelim) before five years after the date of the order for relief, the court shall, order the trustee to cease the debtor’s operation and to collect and reduce to money all of the property of the estate in the same manner as if the case were a case under chapter 7 of this title.
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The court shall confirm a plan if—
(1) the applicable requirements of [section 1129 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title11-section1129&num=0&edition=prelim) have been met;
(2) each creditor or equity security holder will receive or retain under the plan property of a value, as of the effective date of the plan, that is not less than the value of property that each such creditor or equity security holder would so receive or retain if all of the operating railroad lines of the debtor were sold, and the proceeds of such sale, and the other property of the estate, were distributed under chapter 7 of this title on such date;
(3) in light of the debtor’s past earnings and the probable prospective earnings of the reorganized debtor, there will be adequate coverage by such prospective earnings of any fixed charges, such as interest on debt, amortization of funded debt, and rent for leased railroads, provided for by the plan; and
(4) the plan is consistent with the public interest.
**(b)** If the requirements of subsection (a) of this section are met with respect to more than one plan, the court shall confirm the plan that is most likely to maintain adequate rail service in the public interest.
Source: Supplied U.S. Code snapshot — release unconfirmed · 11 U.S.C. § 1173
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Federal law — U.S. Code and appendices · legal_authorities
Page 288
TITLE 11—BANKRUPTCY
§ 1174
plans, as set out in present section 77(e) [section 205(e)
of former title 11]. Subsection (a) specifies the findings
which the court must make before approving a plan: (1)
The plan complies with the applicable provisions of the
chapter; (2) the proponent of the plan complies with the
applicable provisions of the chapter; (3) the plan has
been proposed in good faith; (4) any payments for serv-
ices or for costs or expenses in connection with the case
or the plan are disclosed to the court and are reason-
able, or, if to be paid later, are subject to the approval
of the court as reasonable; (5) the proponent of the plan
has disclosed the identity and affiliations of the indi-
viduals who will serve as directors, officers, or voting
trustees, such appointments or continuations in office
are consistent with the interests of creditors, equity se-
curity holders, and the proponent the public, and has
disclosed the identity and compensation of any insider
who will be employed or retained under the plan; (6)
that rate changes proposed in the plan have been ap-
proved by the appropriate regulatory commission, or
that the plan is contingent on such approval; (7) that
confirmation of the plan is not likely to be followed by
further reorganization or liquidation, unless it is con-
templated by the plan; (8) that the plan, if there is
more than one, is the one most likely to maintain ade-
quate rail service and (9) that the plan provides the pri-
ority traditionally accorded by section 77(b) [section
205(b) of former title 11] to claims by rail creditors for
necessary services rendered during the 6 months pre-
ceding the filing of the petition in bankruptcy.
Subsection (b) continues the present power of the
court in section
Source: Supplied 2024 U.S. Code historical extraction · 11 U.S.C. § 1174
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