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Chapter 11
Chapter 12
Chapter 13
LAWDOG is intended to assist in the understanding of basic concepts. See Disclaimer. Always obtain legal advice from legal professionals.
A debtor in a Chapter 11 bankruptcy is required under 11 U.S.C. Section 1121 to file a plan within the following time limitations:
1. By The Debtor:
"(b) Except as otherwise provided in this section, only the debtor may file a plan until after 120 days after the date of order for relief under this chapter;"
2. By Party In Interest:
However, under subsection (c) of 11 U.S.C. Section 1121, the Bankruptcy Code also provides:
"(c) Any party in interest, including the debtor, the trustee, a creditors' committee, an equity security holder's committee, a creditor, an equity security holder, or any indenture trustee, may file a plan if and only if--
(1) a trustee has been appointed under this chapter;
(2) the debtor has not filed a plan before 120 days after the date of the order for relief under this chapter; or
(3) the debtor has not filed a plan that has been accepted, before 180 days after the date of the order for relief under this chapter, by each class of claims or interests that is impaired under the plan."
3. By A Debtor Who Elects To Be Considered As A Small Business:
Subsection (e) of 11 U.S.C. Section 1121 provides:
"In a case in which the debtor is a small business and elects to be considered a small business--
(1) only the debtor may file a plan until after 100 days after the date of the order of relief under this chapter;
(2) all plans shall be filed within 160 days after the date of the order for relief;..."
A debtor in a Chapter 12 Bankruptcy is required under 11 U.S.C. Section 1221 to file a plan:
"The debtor shall file a plan not later than 90 days after the order of relief under this chapter, except that the court may extend such period if the need for an extension is attributable to circumstances for which the debtor should not justly be held accountable."
Bankruptcy Code Section 1321 requires only that a debtor shall file a plan. Bankruptcy Rules Rule 3015(b) specifies that:
"The debtor may file a chapter 13 plan with the petition. If a plan is not filed with the petition, it shall be filed within 15 days thereafter, and such time may not be further extended except for cause shown and on notice as the court may direct. If a case is converted to a chapter 13, a plan shall be filed with 15 days thereafter, and such time may not be further extended except for cause shown and on notice as the court may direct."
Portions of Section 1121, Section 1221, Section 1321 of Title 11 of the United States Code, and Bankruptcy Rules Rule 3015 are included below for illustration purposes only.
