What is a “confirmation hearing” in a Chapter 11 bankruptcy?

A “confirmation hearing” in a Chapter 11 bankruptcy is a meeting between the debtor and creditors. This hearing is held to determine the terms of the repayment plan that was proposed by the debtor. During the hearing, both parties present evidence and arguments before the court to help decide whether to approve the plan or not. The hearing is presided over by a bankruptcy judge. The debtor may choose to have their attorney with them during the hearing to provide advice and answer questions. The creditors also typically bring a lawyer to represent them. During the confirmation hearing, the debtor and creditors will present evidence and arguments about the proposed repayment plan. This could include any objections the creditors have to the plan. The court will also consider other relevant factors such as the feasibility of the repayment plan. Once the confirmation hearing is complete, the court will decide whether or not to approve the repayment plan. If the plan is approved, the debtor will be responsible for complying with the repayment terms outlined in the plan. If the plan is not approved, the court may suggest an alternative or modify the original plan. The confirmation hearing is an important step in the Chapter 11 bankruptcy process. It provides an opportunity for both the debtor and creditors to present their case and come to an agreement on the repayment plan. The hearing also helps ensure that both parties are getting a fair and just resolution.

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