How long does it take to get a plan of reorganization approved in a Chapter 11 bankruptcy?

In California, the timeline for getting a plan of reorganization approved in a Chapter 11 bankruptcy is not set in stone and varies depending on the complexity of the case, the court’s workload, and other factors. Generally, filing a plan of reorganization will follow filing of the bankruptcy petition, which can take between three and six months. After filing a plan of reorganization, it has to be accepted or rejected by creditors and the court. If creditors and the court accept the plan, it is approved. If the court rejects the plan, the debtor can amend it and try to get it accepted. The confirmation hearing, which is where the court evaluates the plan, can last from one to two hours. If the court approves the plan, the creditors must vote on whether or not to accept the plan. If two-thirds of the creditors approve the plan, then it must be accepted by the court. Once it is accepted by the court, the reorganization plan usually takes effect within two to three weeks of the court’s order. Overall, it can take anywhere from six months to a year to get a plan of reorganization approved in a Chapter 11 bankruptcy. It is important to contact a qualified bankruptcy attorney to learn more about the process and the timeline for a particular case.

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How long does it take to get a plan of reorganization approved in a Chapter 11 bankruptcy?

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