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

The time it takes to get a plan of reorganization approved in a Chapter 11 bankruptcy in Mississippi can vary greatly depending on the complexity of the case. In general, however, the process can take anywhere from three months to several years before the plan of reorganization is approved. At the beginning of the process, the debtor, or the person filing for bankruptcy, is required to submit a written plan of reorganization. In addition, the debtor must provide the court with a disclosure statement, which contains detailed information about the debtor’s financial condition. The court will then hold a hearing to consider the plan and the disclosure statement, during which the debtor and any creditors involved may present arguments to the court. Once the court reviews all of the evidence, it will make a decision as to whether or not to approve the plan. If the court approves the plan, it will then be submitted to the creditors for their review and approval. If the creditors approve the plan, the court will then issue a confirmation order and the plan will become legally binding. In summary, the length of time it takes to obtain approval of a plan of reorganization in a Chapter 11 bankruptcy can vary considerably, but generally speaking it could take anywhere from three months to several years.

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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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