In Re American Capital Equipment, LLC

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• finding notice satisfied where the court issued an order scheduling a hearing five weeks in advance stating the issue for consideration
• finding cause to convert a Chapter 11 case where debtor was unable to propose a plan not contingent on future litigation
• stating \a plan is not 'feasible if the success hinges on future litigation that is uncertain and speculative' \
• finding plan that required asbestos tort plaintiffs to settle claims and consent to a surcharge of the debtor’s insurance recovery for benefit of other creditors was not feasible because the asbestos plaintiffs were not required to consent to surcharge
• “Section 1112(b) requires a two-step process in which the court first determines whether there is ‘cause’ to convert or dismiss, and next chooses between conversion and dismissal based on ‘the best interest of creditors and the estate.’”
• “We find that the Bankruptcy Court did not abuse its discretion in determining that there was cause to convert on the basis that Appellants have been unable to propose a confirmable plan, and will be unable to do so in the future.”

Source: CourtListener parenthetical corpus (CC0).