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Mind Map of Chapter 11 to Chapter 12 Filing Conversion Example
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The court has terminated a confirmed plan due to conditions specified in the plan not having been met. The debtor has materially defaulted on a confirmed plan The debtor has shown the inability to consummate a confirmed plan. The court has revoked a previous confirmation of a plan or a plan modification. Previous plans have either been denied, or a request for additional time to file a new plan has been turned down. Prerequisites for conversion The business debtor has been unable to produce a plan within the time set by the court There has been an unreasonable delay on the part of the business debtor that is harming his creditors The business debtor is unable to carry out a plan The business debtor has suffered a continuing loss of property and that there is an apparent absence of likelihood for circumstances to change Chapter 11 to Chapter 12 Filing Conversion