How long does a debtor have to confirm a plan in a Chapter 11 bankruptcy?

In South Dakota, a debtor has to confirm a plan in a Chapter 11 bankruptcy within 45 days after the first meeting of creditors. The 45-day timeline begins from the date the court issues the Notice of the Commencement of the Case, which is sent out after the case is filed. If the 45-day timeline is not met, the court may extend the deadline to as long as 180 days. The court can extend the deadline only if the debtor shows good cause for needing an extension. Once the plan has been confirmed, the debtor is expected to perform the obligations imposed under the plan. The length of time for the performance of the plan is usually not longer than five years. In most Chapter 11 cases, the debtor is expected to be able to pay the plan in full by the end of the five years. If, after the five-year period, the debtor is not able to pay in full, the court has the discretion to extend the payment period. It is important for debtors to be aware of all the deadlines related to a Chapter 11 bankruptcy filing. If the debtor fails to meet the deadlines, the case may be dismissed without a discharge, which could make it more difficult to pay off the debt owed.

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How long does a debtor have to confirm a plan in a Chapter 11 bankruptcy?

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