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Latest revision as of 00:51, 13 June 2025

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As to third parties that were not subject to the Brazilian extension order, the personal bankruptcy court in Petroforte held the trustee may be entitled to broad discovery to the extent the debtor is a majority stockholder in the non-debtor exploration target.

Section 1106 of the Bankruptcy Code requires the trustee to submit a strategy "as soon as achievable" or, alternatively, to submit a report explaining why a strategy will certainly not be filed or to advise that the instance be transformed to another chapter or rejected.

Yet filing a proof of insurance claim is not necessary if the creditor's case is set up (but is not provided as challenged, contingent, or unliquidated by the borrower) since the debtor's timetables are considered to comprise proof of the validity and quantity of those claims.

The court, on activity by an event in interest or the united state trustee and after notice and hearing, will buy the visit of an instance trustee for cause, consisting of fraud, dishonesty, incompetence, or gross mismanagement, or if such a consultation is in the interest of lenders, any kind of equity safety holders, and other passions of the estate.

Trigger for dismissal or conversion likewise consists of an unexcused failure to prompt conformity with coverage and filing requirements; failing to go to the conference of lenders or participate in an examination without good reason; failure to prompt provide details to the U.S. trustee; and failing to timely pay post-petition taxes or timely data post-petition returns Fed.