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Latest revision as of 11:16, 31 December 2024

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Section 1106 of the Bankruptcy Code needs the trustee to submit a plan "as soon as practicable" or, additionally, to file a record describing why a plan will certainly not be submitted or to recommend that the case be converted to an additional phase or dismissed.

Yet filing a proof of case is not necessary if the lender's claim is set up (however is not listed as challenged, contingent, or unliquidated by the borrower) because the borrower's schedules are considered to constitute evidence of the validity and quantity of those insurance claims.

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