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What You Should Know About Revocation of Plan Confirmation

Revocation Of Plan Confirmation

For circumstances surrounding a petition to revoke a discharge of debtor responsibilities, a bankruptcy lawsuit may come into play for creditors who are dissatisfied with the results on legal and ethical grounds. Adversary bankruptcy proceedings will not encounter a great degree of success, for example, as long as they are arguing the logistics of the plan themselves.

In this regard, once a plan is confirmed, it is confirmed. According to the Bankruptcy Code, bankruptcy court judges use some other justification than misrepresentation of information and/or falsification of documentations to secure confirmation. In the event a plan is overturned, however, and debts have already begun to be discharged, they will also be reinstated.

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