Behind The Curtain—Chapter 11 From The Inside—Chapter 15—Closing The Case And Final Thoughts

We have reached the end of the Chapter 11 case.

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The prior chapter of Behind The Curtain can be found with the following link:

We have reached the end. The Brettco Plan has been confirmed and the Company is working free from the oversight of the Bankruptcy Court and the US Trustee. Even though the Plan has been confirmed, the case is still open. There are a few “post-confirmation” requirements that Brettco has to do to get the Case closed. To get the Case closed, Brettco will need to file a motion to close the case. This is a fairly straight forward motion. Brettco will need to tell the Court that the Plan has been “substantially consummated.” What that means is that Brettco has started making payments under the Plan. There is another reason why Brett wants to have the Case closed. The US Trustee requires that a debtor continue to make quarterly payments, based on the amount of distributions until the case is closed. The closing of the Case stops those payments from being required.

Going back to Chapter 2, Brett answered a lot of questions about how he felt before he started the case and his overall thoughts about the case. To put a bow on this, it is time for the exit interview.

Q. Brettco has been out of bankruptcy for more than a year. Looking back over the process, what are some of your overall thoughts?

A. I am so glad I hired

Keep reading this article on Forbes Small Business.

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