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June 2, 2023 Bankruptcy Quiz

Which of the following is/are inapplicable in Subchapter V cases?
Monthly Operating Reports
Unsecured Creditor Committees
United States Trustee Fees
Unsecured Creditor Committees and United States Trustee Fees
Assume that you have four affiliates that, by themselves, would otherwise be eligible Subchapter V debtors and assume that they have business debts as follows: Entity A has $1 million in debts; Entity B has $3 million in debts; Entity C has $3.25 million in debts; and Entity D has $2 million in debts. If only A, B, and C file Subchapter V cases, do A, B, and C satisfy the current Subchapter V debt limit?
Yes
No
The deadline to file a plan in a Subchapter V case is:
Within 90 days of the petition date (unless the Court extends the exclusivity period)
Within 90 days of the petition date
Within 120 days of the petition date
Within 30 days of the Subchapter V Status Conference
The temporary Subchapter V debt limit of $7.5 million is set to expire on what date?
It already expired on February 21, 2023
June 21, 2023
December 31, 2023
June 21, 2024
Which of the following statements is true regarding the Subchapter V Trustee's obligation to make payments to creditors under a plan?
The Trustee makes the payments for non-consensual cramdown plans but not for consensual plans
The Trustee makes the payments for non-consensual cramdown plans unless the plan provides otherwise.
The Trustee makes the payments for non-consensual cramdown plans unless the order confirming the plan provides otherwise.
The Trustee makes the payments for non-consensual cramdown plans unless the plan or the order confirming the plan provides otherwise.
Who may file a plan in a Subchapter V case?
Debtor
Creditor (if the debtor's plan filing deadline expires without the debtor filing a plan)
Unsecured Creditors Committee (if one is appointed)
All of the above
In a Subchapter V case, may a creditor make a Section 1111(b) election?
Yes
No
Which of the following statements accurately describes the Bankruptcy Code's treatment of administrative expenses under a Subchapter V plan?
In a consensual and a non-consensual Subchapter V plan, administrative expense claims must be paid in full on the effective date of the plan unles the administraive expense claimant agrees to different treatment.
Rather than being due in full on the effective date of the plan, administrative expenses can be paid on a deferred basis.
Rather than being due in full on the effective date of the plan, administrative expenses can be paid on a deferred basis if the plan is a non-consensual plan under Section 1194(b).
Administrative expense claims must be paid in a manner not less favorable than the most favored non-priority unsecured claim provided for by the plan.
While a non-consensual Subchapter V plan can be modified after substantial consummation, a consensual Subchapter V plan cannot be modified after substantial consummation.
True
False
A Subchapter V plan is "fair and equitable" as to a debtor's unsecured creditors if it:
Provides that all projected disposable income of the debtor over 3 years is paid to unsecured creditors.
Provides that all actual disposable income of the debtor over 3 years is paid to unsecured creditors.
Provides that all projected disposable income of the debtor over 3 to 5 years (as determined by the Court) is paid to unsecured creditors.
Provides that all actual disposable income of the debtor over 3 to 5 years (as determined by the Court) is paid to unsecured creditors.
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