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11 U.S.C. § 1144 — Revocation of an order of confirmation
Federal law — U.S. Code and appendices · legal_authorities
On request of a party in interest at any time before 180 days after the date of the entry of the order of confirmation, and after notice and a hearing, the court may revoke such order if and only if such order was procured by fraud. An order under this section revoking an order of confirmation shall—
(1) contain such provisions as are necessary to protect any entity acquiring rights in good faith reliance on the order of confirmation; and
(2) revoke the discharge of the debtor.
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Source file: Laws/federal/codes/united-states-code/title-11/section-1144-revocation-of-an-order-of-confirmation--87ee5e0f79.md
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Source location: Title 11, Chapter 11, § 1144; chapter-011-reorganization.md
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On request of a party in interest at any time before 180 days after the date of the entry of the order of confirmation, and after notice and a hearing, the court may revoke such order if and only if such order was procured by fraud. An order under this section revoking an order of confirmation shall—
(1) contain such provisions as are necessary to protect any entity acquiring rights in good faith reliance on the order of confirmation; and
(2) revoke the discharge of the debtor.
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Federal law — U.S. Code and appendices · legal_authorities
In this title the following definitions shall apply:
(1) The term “accountant” means accountant authorized under applicable law to practice public accounting, and includes professional accounting association, corporation, or partnership, if so authorized.
(2) The term “affiliate” means—
(A) entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities—
(i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or
(ii) solely to secure a debt, if such entity has not in fact exercised such power to vote;
(B) corporation 20 percent or more of whose outstanding voting securities are directly or indirectly owned, controlled, or held with power to vote, by the debtor, or by an entity that directly or indirectly owns, controls, or holds with power to vote, 20 percent or more of the outstanding voting securities of the debtor, other than an entity that holds such securities—
(i) in a fiduciary or agency capacity without sole discretionary power to vote such securities; or
(ii) solely to secure a debt, if such entity has not in fact exercised such power to vote;
(C) person whose business is operated under a lease or operating agreement by a debtor, or person substantially all of whose property is operated under an operating agreement with the debtor; or
(D) entity that operates the business or substantially all of the property of the debtor under a lease or operating agreement.
(3) The term “assisted person” means any person whose debts consist primarily of consumer debts and the value of whose nonexempt property is less than $150,000.11 See Adjustment of Dollar Amounts not
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Federal law — U.S. Code and appendices · legal_authorities
**(a)** The court shall confirm a plan only if all of the following requirements are met:
(1) The plan complies with the applicable provisions of this title.
(2) The proponent of the plan complies with the applicable provisions of this title.
(3) The plan has been proposed in good faith and not by any means forbidden by law.
(4) Any payment made or to be made by the proponent, by the debtor, or by a person issuing securities or acquiring property under the plan, for services or for costs and expenses in or in connection with the case, or in connection with the plan and incident to the case, has been approved by, or is subject to the approval of, the court as reasonable.
(5)
(A)
(i) The proponent of the plan has disclosed the identity and affiliations of any individual proposed to serve, after confirmation of the plan, as a director, officer, or voting trustee of the debtor, an affiliate of the debtor participating in a joint plan with the debtor, or a successor to the debtor under the plan; and
(ii) the appointment to, or continuance in, such office of such individual, is consistent with the interests of creditors and equity security holders and with public policy; and
(B) the proponent of the plan has disclosed the identity of any insider that will be employed or retained by the reorganized debtor, and the nature of any compensation for such insider.
(6) Any governmental regulatory commission with jurisdiction, after confirmation of the plan, over the rates of the debtor has approved any rate change provided for in the plan, or such rate change is expressly conditioned on such approval.
(7) With respect to each impaired class of claims or interests—
(A) each holder of a claim or interest of such class—
(i) has accepted the plan; or
(
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Federal law — U.S. Code and appendices · legal_authorities
Page 276
TITLE 11—BANKRUPTCY
§ 1143
§ 1143. Distribution
If a plan requires presentment or surrender of
a security or the performance of any other act
as a condition to participation in distribution
under the plan, such action shall be taken not
later than five years after the date of the entry
of the order of confirmation. Any entity that
has not within such time presented or surren-
dered such entity’s security or taken any such
other action that the plan requires may not par-
ticipate in distribution under the plan.
(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2639.)
HISTORICAL AND REVISION NOTES
SENATE REPORT NO. 95–989
Section 1143 fixes a 5-year limitation on presentment
or surrender of securities or the performance of any
other act that is a condition to participation in dis-
tribution under the plan. The 5 years runs from the
date of the entry of the order of confirmation. Any en-
tity that does not take the appropriate action with the
5-year period is barred from participation in the dis-
tribution under the plan.
§ 1144. Revocation of an order of confirmation
On request of a party in interest at any time
before 180 days after the date of the entry of the
order of confirmation, and after notice and a
hearing, the court may revoke such order if and
only if such order was procured by fraud. An
order under this section revoking an order of
confirmation shall—
(1) contain such provisions as are necessary
to protect any entity acquiring rights in good
faith reliance on the order of confirmation;
and
(2) revoke the discharge of the debtor.
(Pub. L. 95–598, Nov. 6, 1978, 92 Stat. 2639; Pub. L.
98–353, title III, § 515, July 10, 1984, 98 Stat. 387.)
HISTORICAL AND REVISION NOTES
SENATE REPORT NO. 95–989
If an order of confirmation was procured
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